1,065,608 Shares in Denali Therapeutics Inc. (NASDAQ:DNLI) Acquired by Norges Bank

Norges Bank bought a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,065,608 shares of the company’s stock, valued at approximately $21,717,000. Norges Bank owned about 0.74% of Denali Therapeutics as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of DNLI. PNC Financial Services Group Inc. increased its position in Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares in the last quarter. KBC Group NV boosted its stake in shares of Denali Therapeutics by 75.8% during the 4th quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after purchasing an additional 2,731 shares during the last quarter. AlphaQuest LLC raised its position in shares of Denali Therapeutics by 177.1% in the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company’s stock valued at $142,000 after buying an additional 4,449 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Denali Therapeutics by 32.2% during the fourth quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company’s stock valued at $204,000 after buying an additional 2,436 shares during the period. Finally, SG Americas Securities LLC boosted its position in Denali Therapeutics by 128.8% during the fourth quarter. SG Americas Securities LLC now owns 11,003 shares of the company’s stock worth $224,000 after acquiring an additional 6,195 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DNLI. Oppenheimer cut their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. B. Riley reiterated a “buy” rating and set a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. The Goldman Sachs Group decreased their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Denali Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $37.20.

Denali Therapeutics Stock Performance

DNLI stock opened at $11.78 on Monday. The firm has a market cap of $1.71 billion, a P/E ratio of -4.27 and a beta of 1.58. Denali Therapeutics Inc. has a 1 year low of $11.33 and a 1 year high of $33.33. The stock has a 50-day simple moving average of $18.06 and a 200-day simple moving average of $22.60.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, equities research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares in the company, valued at $536,003.17. This trade represents a 11.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is currently owned by insiders.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.