ProShare Advisors LLC Sells 6,407 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

ProShare Advisors LLC lessened its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 20.5% in the second quarter, Holdings Channel reports. The firm owned 24,798 shares of the company’s stock after selling 6,407 shares during the quarter. ProShare Advisors LLC’s holdings in Denali Therapeutics were worth $576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in shares of Denali Therapeutics in the 1st quarter valued at approximately $831,000. Edgestream Partners L.P. acquired a new position in Denali Therapeutics during the first quarter valued at approximately $2,301,000. Susquehanna Fundamental Investments LLC acquired a new position in Denali Therapeutics during the first quarter valued at approximately $4,330,000. Swiss National Bank lifted its stake in Denali Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock worth $4,477,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Denali Therapeutics in the 1st quarter valued at $447,000. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

DNLI opened at $29.43 on Monday. Denali Therapeutics Inc. has a fifty-two week low of $14.56 and a fifty-two week high of $32.13. The company’s 50 day moving average price is $25.44 and its two-hundred day moving average price is $21.81. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of -30.66 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. The business’s revenue for the quarter was down 99.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 EPS. As a group, equities research analysts predict that Denali Therapeutics Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup boosted their price target on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price target on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Denali Therapeutics in a research report on Monday, September 9th. Finally, Bank of America raised their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Denali Therapeutics Profile

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.