Point72 Asia Singapore Pte. Ltd. Purchases Shares of 8,335 Denali Therapeutics Inc. (NASDAQ:DNLI)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,335 shares of the company’s stock, valued at approximately $194,000.

Other large investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC acquired a new stake in Denali Therapeutics during the 1st quarter worth about $831,000. Edgestream Partners L.P. purchased a new position in shares of Denali Therapeutics in the first quarter worth about $2,301,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Denali Therapeutics during the first quarter worth about $4,330,000. Swiss National Bank boosted its position in Denali Therapeutics by 0.7% in the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after buying an additional 1,500 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Denali Therapeutics in the 1st quarter worth approximately $447,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on DNLI shares. Citigroup lifted their price objective on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Denali Therapeutics in a report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of Denali Therapeutics in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Wedbush reduced their price target on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $29.27 on Friday. The stock has a market capitalization of $4.17 billion, a PE ratio of -30.49 and a beta of 1.37. The business has a 50 day simple moving average of $25.28 and a 200-day simple moving average of $21.74. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $32.13.

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

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred 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 $761,016.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.90% of the stock is currently owned by corporate insiders.

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.