Citigroup Inc. trimmed its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) by 33.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 128,120 shares of the company’s stock after selling 64,522 shares during the quarter. Citigroup Inc.’s holdings in Denali Therapeutics were worth $3,563,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. State Street Corp boosted its position in shares of Denali Therapeutics by 26.4% in the 1st quarter. State Street Corp now owns 3,826,792 shares of the company’s stock worth $123,108,000 after purchasing an additional 799,221 shares during the last quarter. Millennium Management LLC acquired a new position in Denali Therapeutics during the second quarter valued at approximately $18,992,000. Point72 Asset Management L.P. acquired a new stake in Denali Therapeutics in the third quarter worth $19,427,000. Baillie Gifford & Co. raised its stake in Denali Therapeutics by 2.7% during the 4th quarter. Baillie Gifford & Co. now owns 15,119,474 shares of the company’s stock worth $420,473,000 after buying an additional 404,423 shares during the period. Finally, Temasek Holdings Private Ltd grew its stake in Denali Therapeutics by 3.8% in the third quarter. Temasek Holdings Private Ltd now owns 5,576,041 shares of the company’s stock valued at $171,129,000 after acquiring an additional 206,554 shares during the period. 67.26% of the stock is currently owned by institutional investors and hedge funds.
In other Denali Therapeutics news, insider Alexander O. Schuth sold 10,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $28.60, for a total value of $286,000.00. Following the transaction, the insider now directly owns 528,691 shares of the company’s stock, valued at approximately $15,120,562.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Alexander O. Schuth sold 5,102 shares of the firm’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $25.04, for a total transaction of $127,754.08. Following the transaction, the insider now directly owns 528,691 shares of the company’s stock, valued at $13,238,422.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander O. Schuth sold 10,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $28.60, for a total transaction of $286,000.00. Following the transaction, the insider now owns 528,691 shares in the company, valued at approximately $15,120,562.60. The disclosure for this sale can be found here. Insiders have sold 15,302 shares of company stock valued at $418,754 over the last ninety days. 12.70% of the stock is currently owned by company insiders.
Denali Therapeutics Price Performance
Denali Therapeutics (NASDAQ:DNLI – Get Rating) last released its quarterly earnings data on Monday, May 8th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.10). The business had revenue of $35.14 million during the quarter, compared to analyst estimates of $29.88 million. Denali Therapeutics had a negative net margin of 365.21% and a negative return on equity of 40.01%. The business’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.53) earnings per share. Analysts expect that Denali Therapeutics Inc. will post -3.31 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on DNLI shares. Morgan Stanley increased their target price on Denali Therapeutics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 12th. Stifel Nicolaus dropped their price objective on shares of Denali Therapeutics to $30.00 in a report on Tuesday, May 9th. SVB Securities assumed coverage on Denali Therapeutics in a report on Monday, January 30th. They set an “outperform” rating and a $50.00 target price for the company. Wedbush cut their price target on Denali Therapeutics from $46.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $105.00 price objective on shares of Denali Therapeutics in a report on Thursday, February 23rd. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $54.58.
Denali Therapeutics Profile
Denali Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates for neurodegenerative diseases. Its product pipeline includes LRRK2, RIPK1, TREM2, and Tau. The company was founded by Ryan J. Watts, Marc Tessier-Lavigne, and Alexander Schuth on October 14, 2013 and is headquartered in San Francisco, CA.
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