ADAR1 Capital Management LLC Reduces Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

ADAR1 Capital Management LLC trimmed its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 56.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,826 shares of the company’s stock after selling 57,000 shares during the quarter. ADAR1 Capital Management LLC’s holdings in Denali Therapeutics were worth $914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Denali Therapeutics by 230.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,625 shares of the company’s stock valued at $805,000 after buying an additional 19,259 shares during the last quarter. Wellington Management Group LLP increased its position in Denali Therapeutics by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after purchasing an additional 903,683 shares in the last quarter. Pier Capital LLC lifted its holdings in Denali Therapeutics by 1.6% in the 3rd quarter. Pier Capital LLC now owns 168,082 shares of the company’s stock valued at $4,896,000 after purchasing an additional 2,596 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Denali Therapeutics during the 3rd quarter worth about $1,894,000. Finally, Barclays PLC grew its holdings in shares of Denali Therapeutics by 101.4% during the third quarter. Barclays PLC now owns 255,883 shares of the company’s stock worth $7,454,000 after buying an additional 128,823 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

DNLI has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target for the company. Oppenheimer dropped their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Bank of America lowered their price objective on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, B. Riley reaffirmed a “buy” rating and issued a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.20.

Denali Therapeutics Price Performance

Shares of DNLI stock opened at $11.78 on Monday. The firm has a market cap of $1.71 billion, a P/E ratio of -4.27 and a beta of 1.58. The firm has a fifty day moving average of $18.06 and a two-hundred day moving average of $22.60. Denali Therapeutics Inc. has a 1-year low of $11.33 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, sell-side analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Activity

In related news, Director Steve E. Krognes sold 3,339 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 25,757 shares in the company, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 7.90% of the company’s stock.

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.