Y Intercept Hong Kong Ltd Trims Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Y Intercept Hong Kong Ltd lessened its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 64.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,823 shares of the company’s stock after selling 25,369 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Denali Therapeutics were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC boosted its holdings in Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after buying an additional 654 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Denali Therapeutics during the 3rd quarter worth about $73,000. Assetmark Inc. grew its position in shares of Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after acquiring an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Denali Therapeutics in the 2nd quarter worth about $194,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the sale, the insider now owns 178,066 shares of the company’s stock, valued at $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the sale, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This trade represents a 50.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,578 shares of company stock worth $2,474,440 in the last quarter. Company insiders own 7.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on DNLI shares. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday. Jefferies Financial Group lifted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America upped their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Denali Therapeutics Price Performance

DNLI opened at $23.29 on Tuesday. The company’s 50 day simple moving average is $26.21 and its two-hundred day simple moving average is $24.88. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $33.33. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -8.44 and a beta of 1.35.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the firm posted ($0.72) earnings per share. On average, equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

About Denali Therapeutics

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.