Pier Capital LLC Boosts Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Pier Capital LLC increased its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 97.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 332,319 shares of the company’s stock after purchasing an additional 164,237 shares during the period. Pier Capital LLC’s holdings in Denali Therapeutics were worth $6,773,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Denali Therapeutics in the 3rd quarter worth about $73,000. PNC Financial Services Group Inc. grew its position in Denali Therapeutics by 30.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after acquiring an additional 885 shares in the last quarter. KBC Group NV increased its stake in Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after acquiring an additional 2,731 shares during the last quarter. AlphaQuest LLC raised its position in Denali Therapeutics by 177.1% during the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company’s stock valued at $142,000 after purchasing an additional 4,449 shares during the period. Finally, E Fund Management Co. Ltd. lifted its stake in shares of Denali Therapeutics by 32.2% in the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company’s stock valued at $204,000 after purchasing an additional 2,436 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Up 2.3 %

Shares of NASDAQ DNLI opened at $14.76 on Tuesday. Denali Therapeutics Inc. has a twelve month low of $14.01 and a twelve month high of $33.33. The firm has a market cap of $2.14 billion, a PE ratio of -5.35 and a beta of 1.46. The business has a fifty day simple moving average of $19.59 and a two-hundred day simple moving average of $23.54.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insider Activity

In related news, insider Carole Ho sold 12,255 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $247,796.10. Following the sale, the insider now owns 178,580 shares of the company’s stock, valued at $3,610,887.60. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vicki L. Sato sold 3,080 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DNLI shares. Bank of America cut their target price on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price target on the stock. Finally, Oppenheimer decreased their price objective on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

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.