Millennium Management LLC Acquires 344,056 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Millennium Management LLC grew its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 571.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 404,224 shares of the company’s stock after purchasing an additional 344,056 shares during the period. Millennium Management LLC owned about 0.28% of Denali Therapeutics worth $8,238,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Barclays PLC increased its stake in Denali Therapeutics by 101.4% in the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock valued at $7,454,000 after buying an additional 128,823 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Denali Therapeutics by 128.8% in the 4th quarter. SG Americas Securities LLC now owns 11,003 shares of the company’s stock valued at $224,000 after acquiring an additional 6,195 shares in the last quarter. KBC Group NV increased its position in shares of Denali Therapeutics by 75.8% in the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock valued at $129,000 after acquiring an additional 2,731 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Denali Therapeutics by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,517 shares of the company’s stock worth $622,000 after acquiring an additional 2,982 shares in the last quarter. Finally, abrdn plc raised its holdings in Denali Therapeutics by 10.6% during the fourth quarter. abrdn plc now owns 402,282 shares of the company’s stock worth $8,199,000 after acquiring an additional 38,603 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Trading Down 1.8%

NASDAQ:DNLI opened at $13.42 on Monday. The stock has a 50 day simple moving average of $13.97 and a 200 day simple moving average of $19.04. The stock has a market cap of $1.95 billion, a P/E ratio of -4.86 and a beta of 1.49. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period in the prior year, the business earned ($0.68) earnings per share. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on DNLI. HC Wainwright decreased their price target on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price on the stock. Robert W. Baird cut their price target on shares of Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Wedbush lowered their price objective on shares of Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, B. Riley reaffirmed a “buy” rating and issued a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $33.71.

Denali Therapeutics 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.