Point72 Asset Management L.P. Sells 719,620 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Point72 Asset Management L.P. trimmed its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 68.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 333,530 shares of the company’s stock after selling 719,620 shares during the quarter. Point72 Asset Management L.P.’s holdings in Denali Therapeutics were worth $9,716,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. FMR LLC increased its stake in Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Denali Therapeutics by 63.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after purchasing an additional 1,451,770 shares in the last quarter. Marshall Wace LLP increased its stake in Denali Therapeutics by 12.7% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Denali Therapeutics by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after purchasing an additional 84,522 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

Insider Activity at Denali Therapeutics

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

Denali Therapeutics Trading Up 6.7 %

NASDAQ DNLI opened at $24.89 on Friday. The company has a market cap of $3.58 billion, a PE ratio of -9.02 and a beta of 1.35. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $33.33. The stock has a 50 day moving average of $26.76 and a 200-day moving average of $24.64.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the prior year, the business earned ($0.72) earnings per share. As a group, sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on DNLI shares. Jefferies Financial Group upped their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Bank of America upped 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. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a research report on Thursday, November 7th. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

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.