Cibc World Markets Corp Purchases Shares of 11,633 Denali Therapeutics Inc. (NASDAQ:DNLI)

Cibc World Markets Corp acquired a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,633 shares of the company’s stock, valued at approximately $237,000.

Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in Denali Therapeutics during the 3rd quarter worth $73,000. PNC Financial Services Group Inc. lifted its position in shares of Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares during the last quarter. KBC Group NV boosted its stake in Denali Therapeutics by 75.8% during the 4th quarter. KBC Group NV now owns 6,334 shares of the company’s stock valued at $129,000 after purchasing an additional 2,731 shares during the period. AlphaQuest LLC grew 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 last quarter. Finally, E Fund Management Co. Ltd. increased its position in Denali Therapeutics by 32.2% in the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company’s stock worth $204,000 after buying an additional 2,436 shares during the period. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Stock Down 4.3 %

Shares of Denali Therapeutics stock opened at $14.12 on Wednesday. The stock has a market capitalization of $2.05 billion, a P/E ratio of -5.12 and a beta of 1.46. Denali Therapeutics Inc. has a 12-month low of $14.01 and a 12-month high of $33.33. The company has a 50-day simple moving average of $19.50 and a 200 day simple moving average of $23.46.

Denali Therapeutics (NASDAQ:DNLI) last posted 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. On average, equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Vicki L. Sato sold 3,080 shares of the firm’s 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 completion of the sale, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the transaction, the insider now directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,940 shares of company stock valued at $973,442. 7.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DNLI. Morgan Stanley began coverage on shares of Denali Therapeutics in a research note on Friday, March 7th. They issued an “overweight” rating and a $33.00 price objective on the stock. The Goldman Sachs Group decreased their price target on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a research report on Friday, February 28th. Bank of America decreased their target price on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, B. Riley reaffirmed a “buy” rating and issued a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

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.