Point72 Asset Management L.P. Has $9.72 Million Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Point72 Asset Management L.P. lowered its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 68.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,530 shares of the company’s stock after selling 719,620 shares during the period. Point72 Asset Management L.P. owned about 0.23% of Denali Therapeutics worth $9,716,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after buying an additional 1,847 shares in the last quarter. CWM LLC boosted its stake in shares of Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after purchasing an additional 654 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Denali Therapeutics in the 3rd quarter valued at $73,000. Assetmark Inc. boosted its stake in shares of Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after purchasing an additional 580 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Stock Up 6.7 %

Shares of NASDAQ DNLI opened at $24.89 on Friday. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -9.02 and a beta of 1.35. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $33.33. The firm’s 50-day simple moving average is $26.76 and its 200 day simple moving average is $24.64.

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

Analysts Set New Price Targets

DNLI has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Jefferies Financial Group boosted their target price 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. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their price target 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. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.90.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 1,020 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the sale, the director now directly owns 111,056 shares of the company’s stock, valued at $3,331,680. This represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is currently owned by insiders.

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.