Fmr LLC Grows Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Fmr LLC lifted its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 3,234.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,831,378 shares of the company’s stock after acquiring an additional 7,596,508 shares during the quarter. Fmr LLC owned approximately 0.05% of Denali Therapeutics worth $228,128,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Denali Therapeutics by 879.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after purchasing an additional 1,847 shares in the last quarter. Clarius Group LLC increased its holdings in Denali Therapeutics by 4.5% during the 2nd quarter. Clarius Group LLC now owns 409,995 shares of the company’s stock valued at $9,520,000 after purchasing an additional 17,777 shares during the period. SG Americas Securities LLC raised its position in Denali Therapeutics by 93.4% during the 2nd quarter. SG Americas Securities LLC now owns 13,808 shares of the company’s stock valued at $321,000 after purchasing an additional 6,667 shares during the last quarter. Hamilton Lane Advisors LLC purchased a new stake in Denali Therapeutics in the 2nd quarter worth approximately $596,000. Finally, MONECO Advisors LLC bought a new stake in shares of Denali Therapeutics in the 2nd quarter worth approximately $202,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock opened at $25.63 on Tuesday. The firm’s 50-day moving average is $27.20 and its 200 day moving average is $24.57. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -9.29 and a beta of 1.40. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the prior year, the company earned ($0.72) earnings per share. On average, equities analysts expect that Denali Therapeutics Inc. will post -2.69 EPS for the current fiscal year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the transaction, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This trade represents a 50.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,578 shares of company stock worth $2,474,440. 7.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DNLI. Jefferies Financial Group raised their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Bank of America upped their target price on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $38.90.

Denali Therapeutics 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.