Pitcairn Co. Takes Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Pitcairn Co. purchased a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,259 shares of the company’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DNLI. Point72 Asset Management L.P. purchased a new position in shares of Denali Therapeutics during the 2nd quarter valued at approximately $24,454,000. Integral Health Asset Management LLC bought a new stake in shares of Denali Therapeutics in the 2nd quarter worth about $7,546,000. Candriam S.C.A. raised its stake in shares of Denali Therapeutics by 62.2% in the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock valued at $16,869,000 after purchasing an additional 278,621 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Denali Therapeutics by 12.7% during the second quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock worth $56,165,000 after purchasing an additional 272,454 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Denali Therapeutics by 58.7% in the second quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock valued at $14,395,000 after buying an additional 229,313 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DNLI shares. JPMorgan Chase & Co. reduced their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Denali Therapeutics in a report on Thursday, November 7th. Wedbush dropped their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Bank of America raised their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.90.

Insider Activity

In other news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now owns 235,807 shares of the company’s stock, valued at $6,529,495.83. The trade was a 14.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the sale, the insider now directly owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,578 shares of company stock worth $2,474,440 over the last three months. Corporate insiders own 7.90% of the company’s stock.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $24.68 on Wednesday. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $33.33. The stock’s fifty day moving average is $27.76 and its 200-day moving average is $24.38. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -8.94 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the previous year, the company posted ($0.72) EPS. Analysts forecast that Denali Therapeutics Inc. will post -2.69 EPS for the current fiscal year.

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.