Denali Therapeutics Inc. (NASDAQ:DNLI) Stake Cut by ClariVest Asset Management LLC

ClariVest Asset Management LLC cut its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 51.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,964 shares of the company’s stock after selling 24,784 shares during the quarter. ClariVest Asset Management LLC’s holdings in Denali Therapeutics were worth $533,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DNLI. GAMMA Investing LLC boosted its holdings in shares of Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after acquiring an additional 1,847 shares during the period. PNC Financial Services Group Inc. boosted its stake in Denali Therapeutics by 48.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after purchasing an additional 807 shares during the period. Fisher Asset Management LLC bought a new position in Denali Therapeutics in the 4th quarter worth about $59,000. Assetmark Inc. grew its position in Denali Therapeutics by 65.3% in the 4th quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock worth $76,000 after purchasing an additional 1,402 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Denali Therapeutics in the first quarter valued at approximately $88,000. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Stock Up 3.2 %

NASDAQ:DNLI opened at $27.96 on Friday. The business’s 50-day moving average price is $23.54 and its 200 day moving average price is $21.00. Denali Therapeutics Inc. has a 52-week low of $14.56 and a 52-week high of $28.04. The firm has a market cap of $3.99 billion, a P/E ratio of -29.13 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. During the same quarter last year, the firm posted $1.30 earnings per share. Denali Therapeutics’s revenue was down 99.7% compared to the same quarter last year. Sell-side analysts expect that Denali Therapeutics Inc. will post -2.54 EPS for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the sale, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Bank of America boosted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Wedbush lowered their price target on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $38.33.

Denali Therapeutics Company 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.