Capital Research Global Investors Cuts Stake in Denali Therapeutics Inc. $DNLI

Capital Research Global Investors decreased its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 21.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,729,244 shares of the company’s stock after selling 1,031,614 shares during the period. Capital Research Global Investors’ holdings in Denali Therapeutics were worth $61,570,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. WINTON GROUP Ltd purchased a new stake in shares of Denali Therapeutics in the 4th quarter valued at $210,000. State of Wyoming boosted its stake in shares of Denali Therapeutics by 24.7% in the 4th quarter. State of Wyoming now owns 2,686 shares of the company’s stock valued at $44,000 after purchasing an additional 532 shares in the last quarter. 1492 Capital Management LLC purchased a new stake in shares of Denali Therapeutics in the 4th quarter valued at $1,114,000. Goldman Sachs Group Inc. boosted its stake in shares of Denali Therapeutics by 77.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock valued at $63,329,000 after purchasing an additional 1,672,098 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Denali Therapeutics in the 4th quarter valued at $84,525,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Trading Up 6.4%

NASDAQ:DNLI opened at $20.79 on Wednesday. The company has a fifty day moving average of $19.68 and a 200 day moving average of $19.38. Denali Therapeutics Inc. has a 52 week low of $12.58 and a 52 week high of $23.77. 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 firm has a market capitalization of $3.30 billion, a P/E ratio of -7.22 and a beta of 1.03.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the business earned ($0.78) earnings per share. On average, research analysts predict that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on DNLI. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 price target on shares of Denali Therapeutics in a report on Monday, March 2nd. Stifel Nicolaus upped their price target on shares of Denali Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Wedbush lowered their price target on shares of Denali Therapeutics from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Wall Street Zen upgraded shares of Denali Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wolfe Research began coverage on shares of Denali Therapeutics in a report on Monday, February 23rd. They set a “peer perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $34.25.

About Denali Therapeutics

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.