Point72 Asia Singapore Pte. Ltd. Purchases New Shares in Denali Therapeutics Inc. (NASDAQ:DNLI)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) in the 2nd quarter, Holdings Channel reports. The firm acquired 8,335 shares of the company’s stock, valued at approximately $194,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DNLI. Vanguard Group Inc. raised its stake in Denali Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock worth $225,069,000 after buying an additional 133,810 shares in the last quarter. Capital Research Global Investors raised its position in shares of Denali Therapeutics by 107.9% in the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after acquiring an additional 3,140,429 shares in the last quarter. Baker BROS. Advisors LP lifted its stake in shares of Denali Therapeutics by 43.1% in the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after purchasing an additional 1,124,499 shares during the period. Marshall Wace LLP raised its holdings in Denali Therapeutics by 12.7% in the second quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock worth $56,165,000 after purchasing an additional 272,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Denali Therapeutics by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock valued at $32,913,000 after buying an additional 84,522 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America increased their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Citigroup upped their price target on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Denali Therapeutics in a research note on Monday, September 9th. Finally, Wedbush reduced their price target on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Insider Buying and Selling

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the sale, the director now owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.90% of the stock is currently owned by corporate insiders.

Denali Therapeutics Price Performance

DNLI stock opened at $29.03 on Thursday. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $32.13. The stock has a market capitalization of $4.14 billion, a P/E ratio of -30.24 and a beta of 1.37. The business has a fifty day moving average price of $25.65 and a 200-day moving average price of $21.93.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.09. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. During the same quarter in the prior year, the company posted $1.30 EPS. Denali Therapeutics’s revenue was down 99.7% on a year-over-year basis. As a group, analysts anticipate that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

About Denali Therapeutics

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.