State of New Jersey Common Pension Fund D Decreases Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

State of New Jersey Common Pension Fund D decreased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,483 shares of the company’s stock after selling 25,613 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Denali Therapeutics worth $2,257,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DNLI. Capital Research Global Investors boosted its position in shares of Denali Therapeutics by 107.9% during the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after buying an additional 3,140,429 shares during the period. Baker BROS. Advisors LP boosted its holdings in Denali Therapeutics by 43.1% during the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after acquiring an additional 1,124,499 shares during the period. Point72 Asset Management L.P. bought a new position in Denali Therapeutics in the 2nd quarter valued at $24,454,000. Integral Health Asset Management LLC purchased a new stake in Denali Therapeutics in the second quarter worth $7,546,000. Finally, Candriam S.C.A. lifted its position in shares of Denali Therapeutics by 62.2% during the second quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock worth $16,869,000 after purchasing an additional 278,621 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Performance

NASDAQ:DNLI opened at $28.45 on Friday. The stock has a market capitalization of $4.09 billion, a P/E ratio of -10.31 and a beta of 1.40. The company’s 50-day simple moving average is $28.20 and its 200-day simple moving average is $23.91. Denali Therapeutics Inc. has a fifty-two week low of $14.56 and a fifty-two week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period last year, the firm earned ($0.72) EPS. On average, research analysts forecast that Denali Therapeutics Inc. will post -2.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DNLI shares. Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Jefferies Financial Group lifted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup increased their price objective on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Bank of America increased their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the transaction, the insider now owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the sale, the director now directly owns 111,056 shares in the company, valued at $3,331,680. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,578 shares of company stock worth $2,474,440. 7.90% of the stock is owned by insiders.

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.