Squarepoint Ops LLC Buys 58,806 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Squarepoint Ops LLC lifted its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 90.6% during the 2nd quarter, Holdings Channel reports. The firm owned 123,680 shares of the company’s stock after buying an additional 58,806 shares during the quarter. Squarepoint Ops LLC’s holdings in Denali Therapeutics were worth $2,872,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. UBS Group AG grew its stake in Denali Therapeutics by 165.3% during the fourth quarter. UBS Group AG now owns 290,985 shares of the company’s stock worth $6,245,000 after buying an additional 181,289 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in Denali Therapeutics by 40.4% during the 4th quarter. Rafferty Asset Management LLC now owns 321,973 shares of the company’s stock valued at $6,910,000 after purchasing an additional 92,660 shares in the last quarter. Capital Research Global Investors increased its holdings in Denali Therapeutics by 1.0% during the 4th quarter. Capital Research Global Investors now owns 2,909,528 shares of the company’s stock valued at $62,438,000 after purchasing an additional 29,205 shares in the last quarter. Seven Eight Capital LP bought a new position in Denali Therapeutics in the 4th quarter valued at $1,558,000. Finally, Braidwell LP acquired a new position in Denali Therapeutics in the fourth quarter worth $9,910,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Insider Activity at Denali Therapeutics

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

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $29.03 on Thursday. The firm has a fifty day moving average of $25.65 and a two-hundred day moving average of $21.93. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -30.24 and a beta of 1.37. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $32.13.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DNLI shares. Citigroup raised their target price on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America boosted their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of Denali Therapeutics in a research report on Monday, September 9th. JPMorgan Chase & Co. raised their price target 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

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.