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

State of New Jersey Common Pension Fund D raised its position in Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) by 29.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 76,931 shares of the company’s stock after purchasing an additional 17,313 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Denali Therapeutics worth $2,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. purchased a new position in Denali Therapeutics in the 4th quarter valued at $26,000. Point72 Hong Kong Ltd lifted its holdings in Denali Therapeutics by 46.7% in the 4th quarter. Point72 Hong Kong Ltd now owns 1,319 shares of the company’s stock valued at $59,000 after purchasing an additional 420 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Denali Therapeutics by 414.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,948 shares of the company’s stock valued at $88,000 after purchasing an additional 1,569 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in Denali Therapeutics by 34.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,103 shares of the company’s stock valued at $95,000 after purchasing an additional 542 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its holdings in Denali Therapeutics by 28.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,633 shares of the company’s stock valued at $162,000 after purchasing an additional 803 shares in the last quarter. Hedge funds and other institutional investors own 72.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DNLI. Berenberg Bank initiated coverage on Denali Therapeutics in a report on Thursday, June 23rd. They issued a “buy” rating and a $39.00 price objective on the stock. The Goldman Sachs Group reduced their price target on Denali Therapeutics from $99.00 to $82.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Finally, Wedbush reduced their price target on Denali Therapeutics from $62.00 to $48.00 in a report on Friday, May 6th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $76.29.

Denali Therapeutics Trading Down 3.7 %

Shares of DNLI opened at $32.77 on Tuesday. The firm has a market cap of $4.03 billion, a P/E ratio of -14.00 and a beta of 1.66. Denali Therapeutics Inc. has a 12-month low of $20.24 and a 12-month high of $56.80. The company’s 50-day moving average price is $29.25 and its 200 day moving average price is $30.16.

Denali Therapeutics (NASDAQ:DNLI – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). The company had revenue of $42.10 million during the quarter, compared to analysts’ expectations of $33.32 million. Denali Therapeutics had a negative net margin of 344.79% and a negative return on equity of 28.83%. The firm’s quarterly revenue was up 432.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.58) earnings per share. Equities research analysts forecast that Denali Therapeutics Inc. will post -2.66 earnings per share for the current year.

Insider Activity at Denali Therapeutics

In related news, Director Marc Tessier-Lavigne sold 20,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $35.61, for a total value of $712,200.00. Following the sale, the director now directly owns 1,950,356 shares in the company, valued at approximately $69,452,177.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.70% of the stock is owned by insiders.

About Denali Therapeutics

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Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. It offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidate, including BIIB122/DNL151, a small molecule inhibitor, which is in phase I and phase Ib clinical trials for the treatment of Parkinson's disease.

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