Pictet Asset Management Holding SA Sells 1,201,156 Shares of Denali Therapeutics Inc. $DNLI

Pictet Asset Management Holding SA lowered its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 43.0% in the third quarter, Holdings Channel.com reports. The fund owned 1,590,050 shares of the company’s stock after selling 1,201,156 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Denali Therapeutics were worth $32,960,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Denali Therapeutics in the second quarter worth approximately $360,759,000. ADAR1 Capital Management LLC increased its position in shares of Denali Therapeutics by 3,490.9% during the first quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company’s stock worth $35,932,000 after purchasing an additional 1,819,339 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Denali Therapeutics during the second quarter worth approximately $31,660,000. Bank of New York Mellon Corp purchased a new stake in shares of Denali Therapeutics during the second quarter worth approximately $20,583,000. Finally, Defilade Capital Management L.P. raised its stake in Denali Therapeutics by 107.1% in the 1st quarter. Defilade Capital Management L.P. now owns 1,359,969 shares of the company’s stock valued at $26,111,000 after purchasing an additional 703,256 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DNLI. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Thursday, October 15th. Morgan Stanley upped their price objective on shares of Denali Therapeutics from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. B. Riley Financial increased their price objective on shares of Denali Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. BTIG Research reiterated a “buy” rating and issued a $39.00 price objective on shares of Denali Therapeutics in a report on Wednesday, November 4th. Finally, Wall Street Zen raised shares of Denali Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.15.

Insider Buying and Selling at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 2,768 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $23.44, for a total transaction of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares in the company, valued at $6,539,642.80. This trade represents a 0.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is currently owned by company insiders.

Denali Therapeutics Trading Down 2.4%

Shares of DNLI opened at $19.85 on Wednesday. The company has a current ratio of 6.21, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 12-month low of $15.18 and a 12-month high of $27.30. The firm has a 50-day moving average price of $20.00 and a 200 day moving average price of $21.28. The firm has a market capitalization of $3.18 billion, a P/E ratio of -11.47 and a beta of 1.08.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Tuesday, November 3rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.64. The firm had revenue of $17.78 million for the quarter, compared to analysts’ expectations of $12.67 million. During the same period last year, the firm earned ($0.74) earnings per share. Sell-side analysts forecast that Denali Therapeutics Inc. will post -1.94 EPS for the current year.

Denali Therapeutics Company Profile

Denali Therapeutics is a biotechnology company focused on developing medicines for neurodegenerative diseases and other disorders involving the nervous system. Founded in 2015, the company is headquartered in South San Francisco, California. Its research and development programs target conditions including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and lysosomal storage disorders. Denali’s portfolio includes investigational drug candidates that aim to address underlying disease processes, as well as its TransportVehicle platform, designed to help therapeutic molecules cross the blood-brain barrier.