Bryce Point Capital LLC Takes $419,000 Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Bryce Point Capital LLC purchased a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the 4th quarter, Holdings Channel.com reports. The firm purchased 20,550 shares of the company’s stock, valued at approximately $419,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after buying an additional 843,996 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after acquiring an additional 903,683 shares during the period. Alliancebernstein L.P. raised its holdings in Denali Therapeutics by 8.8% during the fourth quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company’s stock worth $67,573,000 after purchasing an additional 268,378 shares in the last quarter. Principal Financial Group Inc. lifted its position in Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after purchasing an additional 149,939 shares during the period. Finally, Norges Bank purchased a new stake in Denali Therapeutics in the 4th quarter valued at approximately $21,717,000. 92.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Denali Therapeutics

In other news, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the sale, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. This represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,860 shares of company stock valued at $909,039 over the last ninety days. Insiders own 7.90% of the company’s stock.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $11.78 on Friday. The business has a 50 day simple moving average of $18.06 and a 200 day simple moving average of $22.71. The firm has a market capitalization of $1.71 billion, a P/E ratio of -4.27 and a beta of 1.58. Denali Therapeutics Inc. has a 12-month low of $11.33 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.08. Research analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on DNLI. Bank of America reduced their price target on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, March 10th. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a report on Friday, February 28th. Oppenheimer cut their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price objective on the stock. Finally, Baird R W raised Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $37.20.

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.