nVerses Capital LLC Takes $288,000 Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

nVerses Capital LLC bought a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) during the third quarter, Holdings Channel reports. The fund bought 9,900 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds have also recently made changes to their positions in DNLI. Creative Planning raised its holdings in shares of Denali Therapeutics by 40.0% in the 3rd quarter. Creative Planning now owns 60,254 shares of the company’s stock valued at $1,755,000 after acquiring an additional 17,221 shares in the last quarter. CWM LLC raised its position in shares of Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after buying an additional 654 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Denali Therapeutics in the second quarter worth $194,000. Dana Investment Advisors Inc. increased its stake in Denali Therapeutics by 19.2% in the second quarter. Dana Investment Advisors Inc. now owns 34,269 shares of the company’s stock valued at $796,000 after acquiring an additional 5,513 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in shares of Denali Therapeutics by 5.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 222,917 shares of the company’s stock worth $5,176,000 after purchasing an additional 11,900 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Price Performance

DNLI opened at $27.59 on Friday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -28.74 and a beta of 1.38. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $32.13. The business has a 50 day simple moving average of $26.77 and a two-hundred day simple moving average of $22.54.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $10.00 million. During the same period in the previous year, the business earned $1.30 EPS. The business’s revenue was down 99.7% compared to the same quarter last year. As a group, sell-side analysts expect that Denali Therapeutics Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the sale, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DNLI shares. Bank of America boosted their target price on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Denali Therapeutics in a report on Wednesday, September 4th. Wedbush lowered their target price on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.22.

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.