Wealthfront Advisers LLC Buys New Shares in Denali Therapeutics Inc. (NASDAQ:DNLI)

Wealthfront Advisers LLC bought a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 19,782 shares of the company’s stock, valued at approximately $403,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DNLI. Quest Partners LLC bought a new stake in Denali Therapeutics in the 3rd quarter valued at $73,000. PNC Financial Services Group Inc. increased its holdings in Denali Therapeutics by 30.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after buying an additional 885 shares during the period. Assetmark Inc. increased its holdings in Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after buying an additional 580 shares during the period. KBC Group NV increased its holdings in Denali Therapeutics by 75.8% in the 4th quarter. KBC Group NV now owns 6,334 shares of the company’s stock valued at $129,000 after buying an additional 2,731 shares during the period. Finally, AlphaQuest LLC increased its holdings in Denali Therapeutics by 177.1% in the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company’s stock valued at $142,000 after buying an additional 4,449 shares during the period. Institutional investors own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America lowered their price target on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Robert W. Baird began coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price on the stock. B. Riley reaffirmed a “buy” rating and issued a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley began coverage on shares of Denali Therapeutics in a report on Friday, March 7th. They issued an “overweight” rating and a $33.00 target price on the stock. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Denali Therapeutics Stock Up 1.7 %

Shares of NASDAQ:DNLI opened at $15.15 on Monday. Denali Therapeutics Inc. has a 12 month low of $14.01 and a 12 month high of $33.33. The firm has a market cap of $2.20 billion, a P/E ratio of -5.49 and a beta of 1.46. The company’s 50-day moving average price is $20.26 and its two-hundred day moving average price is $23.96.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. As a group, equities analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In related news, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the sale, the director now directly owns 107,976 shares in the company, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares in the company, valued at $536,003.17. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,940 shares of company stock worth $973,442. Company insiders own 7.90% of the company’s stock.

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.