Pictet Asset Management Ltd. Grows Position in Denali Therapeutics Inc (NASDAQ:DNLI)

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Pictet Asset Management Ltd. raised its holdings in shares of Denali Therapeutics Inc (NASDAQ:DNLI) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 767,357 shares of the company’s stock after purchasing an additional 28,009 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Denali Therapeutics were worth $11,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in Denali Therapeutics by 1,721.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,095 shares of the company’s stock valued at $32,000 after purchasing an additional 1,980 shares during the last quarter. Bank of Montreal Can purchased a new stake in Denali Therapeutics during the second quarter valued at about $83,000. Virtu Financial LLC purchased a new stake in Denali Therapeutics during the third quarter valued at about $163,000. AQR Capital Management LLC purchased a new stake in Denali Therapeutics during the second quarter valued at about $215,000. Finally, Acadian Asset Management LLC lifted its holdings in Denali Therapeutics by 136.7% during the second quarter. Acadian Asset Management LLC now owns 11,650 shares of the company’s stock valued at $241,000 after purchasing an additional 6,728 shares during the last quarter. 74.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of DNLI opened at $17.79 on Monday. The business’s 50-day moving average price is $15.84 and its 200-day moving average price is $18.34. Denali Therapeutics Inc has a twelve month low of $14.24 and a twelve month high of $28.86. The stock has a market cap of $1.70 billion, a PE ratio of -45.62 and a beta of 2.14. The company has a quick ratio of 10.59, a current ratio of 10.59 and a debt-to-equity ratio of 0.16.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.48) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.08. Denali Therapeutics had a negative return on equity of 13.37% and a negative net margin of 44.73%. The firm had revenue of $13.60 million for the quarter, compared to analysts’ expectations of $10.86 million. Analysts expect that Denali Therapeutics Inc will post -2.04 earnings per share for the current fiscal year.

Several equities research analysts have commented on DNLI shares. HC Wainwright reaffirmed a “buy” rating on shares of Denali Therapeutics in a report on Thursday, August 8th. BTIG Research assumed coverage on Denali Therapeutics in a research report on Friday, August 9th. They set a “buy” rating and a $30.00 price target on the stock. ValuEngine upgraded Denali Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Zacks Investment Research cut Denali Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley set a $32.00 price target on Denali Therapeutics and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $27.43.

In related news, CEO Ryan J. Watts sold 8,581 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.05, for a total value of $154,887.05. Following the transaction, the chief executive officer now directly owns 12,505 shares in the company, valued at $225,715.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Alexander O. Schuth sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $18.16, for a total transaction of $136,200.00. Over the last quarter, insiders have sold 74,337 shares of company stock worth $1,340,821. Company insiders own 21.20% of the company’s stock.

Denali Therapeutics Profile

Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.

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Institutional Ownership by Quarter for Denali Therapeutics (NASDAQ:DNLI)

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