Proficio Capital Partners LLC Makes New $514,000 Investment in Denali Therapeutics Inc. (NASDAQ:DNLI)

Proficio Capital Partners LLC acquired a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,210 shares of the company’s stock, valued at approximately $514,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after purchasing an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Denali Therapeutics by 63.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after acquiring an additional 1,451,770 shares during the period. Wellington Management Group LLP boosted its holdings in Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after acquiring an additional 903,683 shares during the period. Fisher Asset Management LLC boosted its holdings in Denali Therapeutics by 44.8% during the fourth quarter. Fisher Asset Management LLC now owns 792,499 shares of the company’s stock valued at $16,151,000 after acquiring an additional 245,168 shares during the period. Finally, Principal Financial Group Inc. grew its position in Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after buying an additional 149,939 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $14.43 on Monday. The firm has a 50-day moving average of $19.68 and a 200-day moving average of $23.61. Denali Therapeutics Inc. has a one year low of $14.01 and a one year high of $33.33. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -5.23 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last issued 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, sell-side analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DNLI. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, December 16th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Bank of America dropped their price objective on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 10th. B. Riley reiterated a “buy” rating and set a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Denali Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target for the company. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the transaction, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. This represents a 11.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan J. Watts sold 29,266 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares in the company, valued at $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock valued at $973,442 in the last three months. 7.90% of the stock is currently owned by company insiders.

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.