Capital Research Global Investors Trims Stock Position in Denali Therapeutics Inc. $DNLI

Capital Research Global Investors lowered its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,729,244 shares of the company’s stock after selling 1,031,614 shares during the period. Capital Research Global Investors owned 2.54% of Denali Therapeutics worth $61,570,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DNLI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Denali Therapeutics by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company’s stock valued at $1,210,000 after acquiring an additional 3,432 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Denali Therapeutics by 58.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock valued at $22,732,000 after acquiring an additional 614,555 shares in the last quarter. Empowered Funds LLC grew its stake in Denali Therapeutics by 11.0% during the first quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock valued at $281,000 after acquiring an additional 2,052 shares in the last quarter. Woodline Partners LP grew its stake in Denali Therapeutics by 13.5% during the first quarter. Woodline Partners LP now owns 113,517 shares of the company’s stock valued at $1,543,000 after acquiring an additional 13,517 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Denali Therapeutics by 1.7% during the second quarter. JPMorgan Chase & Co. now owns 191,613 shares of the company’s stock valued at $2,681,000 after acquiring an additional 3,210 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DNLI shares. Robert W. Baird boosted their price objective on shares of Denali Therapeutics from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Monday, April 20th. Morgan Stanley dropped their target price on shares of Denali Therapeutics from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. The Goldman Sachs Group lifted their target price on shares of Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of Denali Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.25.

Denali Therapeutics Trading Up 6.4%

Shares of Denali Therapeutics stock opened at $20.79 on Wednesday. Denali Therapeutics Inc. has a 1 year low of $12.58 and a 1 year high of $23.77. The firm has a market cap of $3.30 billion, a PE ratio of -7.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. The company has a 50 day simple moving average of $19.68 and a two-hundred day simple moving average of $19.38.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the business earned ($0.78) EPS. Analysts expect that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.