11,350 Shares in Denali Therapeutics Inc. (NASDAQ:DNLI) Purchased by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. acquired a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,350 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds also recently made changes to their positions in DNLI. Capital Research Global Investors increased its holdings in shares of Denali Therapeutics by 107.9% during the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after acquiring an additional 3,140,429 shares during the last quarter. Norges Bank bought a new position in shares of Denali Therapeutics in the fourth quarter valued at about $24,736,000. Baker BROS. Advisors LP lifted its stake in shares of Denali Therapeutics by 43.1% during the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after buying an additional 1,124,499 shares during the last quarter. Braidwell LP acquired a new stake in shares of Denali Therapeutics during the 4th quarter worth about $9,910,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Denali Therapeutics by 57.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,073,704 shares of the company’s stock worth $23,042,000 after buying an additional 393,626 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DNLI. Citigroup raised their price objective on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Bank of America lifted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush lowered their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a research report on Wednesday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Denali Therapeutics Stock Performance

Denali Therapeutics stock remained flat at $25.25 during trading hours on Friday. 695,238 shares of the company’s stock were exchanged, compared to its average volume of 1,129,859. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $25.90. The company has a market cap of $3.60 billion, a P/E ratio of -26.30 and a beta of 1.40. The stock has a fifty day moving average price of $23.26 and a 200 day moving average price of $20.77.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.09. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $10.00 million. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was down 99.7% on a year-over-year basis. On average, sell-side analysts predict that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the transaction, the director now owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.90% of the company’s stock.

Denali Therapeutics Company 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.