Foresite Capital Management VI LLC Makes New Investment in Denali Therapeutics Inc. $DNLI

Foresite Capital Management VI LLC purchased a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,000,000 shares of the company’s stock, valued at approximately $14,520,000. Denali Therapeutics makes up about 5.6% of Foresite Capital Management VI LLC’s portfolio, making the stock its 6th largest position.

A number of other large investors have also recently modified their holdings of DNLI. AlphaQuest LLC grew its position in shares of Denali Therapeutics by 224.1% during the 3rd quarter. AlphaQuest LLC now owns 74,422 shares of the company’s stock worth $1,081,000 after buying an additional 51,458 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Denali Therapeutics by 23.4% in the third quarter. Aberdeen Group plc now owns 1,113,586 shares of the company’s stock valued at $16,169,000 after acquiring an additional 210,835 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Denali Therapeutics by 18.5% in the third quarter. Principal Financial Group Inc. now owns 1,271,190 shares of the company’s stock worth $18,458,000 after acquiring an additional 198,207 shares during the period. Schroder Investment Management Group lifted its stake in Denali Therapeutics by 32.5% in the second quarter. Schroder Investment Management Group now owns 386,539 shares of the company’s stock worth $5,408,000 after acquiring an additional 94,744 shares during the period. Finally, Norges Bank bought a new position in Denali Therapeutics during the 2nd quarter worth about $55,224,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Insider Buying and Selling at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 17,218 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the transaction, the insider directly owned 282,828 shares of the company’s stock, valued at approximately $4,666,662. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan J. Watts sold 35,198 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $580,767.00. Following the sale, the chief executive officer owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. This represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on DNLI. Stifel Nicolaus set a $37.00 target price on shares of Denali Therapeutics in a research report on Monday, November 17th. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 price objective on shares of Denali Therapeutics in a research note on Monday, March 2nd. BTIG Research boosted their price objective on shares of Denali Therapeutics from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Wolfe Research initiated coverage on Denali Therapeutics in a research report on Monday, February 23rd. They set a “peer perform” rating on the stock. Finally, UBS Group started coverage on Denali Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Two investment 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 assigned a Sell rating to the company. According to data from MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $32.20.

Denali Therapeutics Stock Down 0.6%

NASDAQ:DNLI opened at $20.57 on Monday. The company’s 50-day simple moving average is $19.87 and its 200-day simple moving average is $17.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. Denali Therapeutics Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $23.77. The stock has a market capitalization of $3.26 billion, a P/E ratio of -6.93 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.02. During the same quarter in the prior year, the business posted ($0.67) EPS. 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 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.