Intech Investment Management LLC Sells 25,069 Shares of Denali Therapeutics Inc. $DNLI

Intech Investment Management LLC trimmed its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 34.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 46,797 shares of the company’s stock after selling 25,069 shares during the period. Intech Investment Management LLC’s holdings in Denali Therapeutics were worth $679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DNLI. Norges Bank acquired a new stake in shares of Denali Therapeutics during the 2nd quarter worth about $55,224,000. Goldman Sachs Group Inc. grew its stake in Denali Therapeutics by 58.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock valued at $22,732,000 after buying an additional 614,555 shares during the last quarter. Holocene Advisors LP acquired a new position in Denali Therapeutics in the 2nd quarter valued at about $5,640,000. Cubist Systematic Strategies LLC bought a new position in Denali Therapeutics in the 2nd quarter valued at about $5,548,000. Finally, Edgestream Partners L.P. bought a new position in Denali Therapeutics in the 2nd quarter valued at about $4,797,000. 92.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wolfe Research began coverage on Denali Therapeutics in a report on Monday, February 23rd. They set a “peer perform” rating for the company. Wedbush lowered their target price on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, December 11th. Jefferies Financial Group reissued a “buy” rating and set a $40.00 price target on shares of Denali Therapeutics in a report on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Wednesday, January 21st. Finally, BTIG Research increased their price objective on Denali Therapeutics from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Insiders Place Their Bets

In related news, insider Alexander O. Schuth sold 17,218 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $284,097.00. Following the transaction, the insider owned 282,828 shares in the company, valued at approximately $4,666,662. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan J. Watts sold 35,198 shares of Denali Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $580,767.00. Following the completion of the transaction, the chief executive officer directly owned 296,833 shares in the company, valued at $4,897,744.50. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 12.50% of the company’s stock.

Denali Therapeutics Stock Up 0.6%

Shares of DNLI opened at $21.43 on Wednesday. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 12 month low of $10.57 and a 12 month high of $23.77. The firm’s 50 day moving average is $19.59 and its 200-day moving average is $17.40. The stock has a market capitalization of $3.40 billion, a PE ratio of -7.22 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.02. During the same period in the prior year, the firm earned ($0.67) earnings per share. Equities research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.