Norges Bank Buys Shares of 5,119,622 Denali Therapeutics Inc. $DNLI

Norges Bank bought a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,119,622 shares of the company’s stock, valued at approximately $84,525,000.

A number of other institutional investors also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new position in Denali Therapeutics in the fourth quarter valued at about $83,000. SBI Okasan Asset Management Co.Ltd. bought a new position in Denali Therapeutics in the fourth quarter valued at about $298,000. Intech Investment Management LLC lifted its holdings in Denali Therapeutics by 12.5% in the fourth quarter. Intech Investment Management LLC now owns 52,632 shares of the company’s stock valued at $869,000 after acquiring an additional 5,835 shares during the period. Employees Retirement System of Texas lifted its holdings in Denali Therapeutics by 7.8% in the fourth quarter. Employees Retirement System of Texas now owns 47,177 shares of the company’s stock valued at $779,000 after acquiring an additional 3,408 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Denali Therapeutics by 58.7% in the fourth quarter. Fisher Asset Management LLC now owns 2,589,403 shares of the company’s stock valued at $42,751,000 after acquiring an additional 957,907 shares during the period. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $19.52 on Friday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $19.33. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -6.78 and a beta of 1.03. Denali Therapeutics Inc. has a 52 week low of $12.58 and a 52 week high of $23.77.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the previous year, the firm posted ($0.78) earnings per share. On average, analysts expect that Denali Therapeutics Inc. will post -2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Leerink Partners reduced their price target on Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Stifel Nicolaus upped their price target on Denali Therapeutics from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Jefferies Financial Group restated a “buy” rating and issued a $40.00 price target on shares of Denali Therapeutics in a research report on Monday, March 2nd. HC Wainwright upped their price target on Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded Denali Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One 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 company’s stock. According to MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Denali Therapeutics 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.