Envestnet Asset Management Inc. Sells 6,192 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Envestnet Asset Management Inc. reduced its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,430 shares of the company’s stock after selling 6,192 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Denali Therapeutics were worth $427,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its holdings in Denali Therapeutics by 2.4% in the fourth quarter. FMR LLC now owns 8,019,746 shares of the company’s stock valued at $163,442,000 after acquiring an additional 188,368 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Denali Therapeutics by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company’s stock worth $62,335,000 after purchasing an additional 188,820 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Denali Therapeutics by 19.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company’s stock valued at $37,805,000 after purchasing an additional 295,594 shares in the last quarter. Northern Trust Corp increased its position in shares of Denali Therapeutics by 10.7% during the fourth quarter. Northern Trust Corp now owns 1,201,518 shares of the company’s stock valued at $24,487,000 after buying an additional 115,876 shares during the period. Finally, Stempoint Capital LP increased its position in shares of Denali Therapeutics by 107.2% during the fourth quarter. Stempoint Capital LP now owns 584,328 shares of the company’s stock valued at $11,909,000 after buying an additional 302,278 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $14.35 on Thursday. The firm’s 50 day moving average price is $14.27 and its 200-day moving average price is $15.78. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The company has a market cap of $2.08 billion, a PE ratio of -5.37 and a beta of 1.36.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same quarter last year, the firm posted ($0.68) earnings per share. On average, analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 495,282 shares of the business’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total value of $7,429,230.00. Following the completion of the transaction, the chief executive officer owned 253,071 shares of the company’s stock, valued at approximately $3,796,065. The trade was a 66.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HC Wainwright cut their price objective on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird reduced their price target on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Wedbush decreased their price objective on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. TD Cowen upgraded shares of Denali Therapeutics to a “strong-buy” rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald raised shares of Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $33.85.

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.