Monashee Investment Management LLC Makes New Investment in Denali Therapeutics Inc. $DNLI

Monashee Investment Management LLC purchased a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 91,620 shares of the company’s stock, valued at approximately $1,513,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Denali Therapeutics by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock worth $215,586,000 after purchasing an additional 1,064,972 shares during the period. Baillie Gifford & Co. boosted its stake in Denali Therapeutics by 6.2% in the 4th quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock worth $203,253,000 after purchasing an additional 719,304 shares during the period. Norges Bank bought a new position in Denali Therapeutics in the 4th quarter worth approximately $84,525,000. Goldman Sachs Group Inc. boosted its stake in Denali Therapeutics by 77.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock worth $63,329,000 after purchasing an additional 1,672,098 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Denali Therapeutics by 12.2% in the 3rd quarter. Alliancebernstein L.P. now owns 3,520,414 shares of the company’s stock worth $51,116,000 after purchasing an additional 383,274 shares during the period. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Stock Up 2.0%

NASDAQ DNLI opened at $21.02 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market capitalization of $3.34 billion, a P/E ratio of -7.30 and a beta of 1.03. Denali Therapeutics Inc. has a one year low of $12.58 and a one year high of $23.77. The stock has a 50 day moving average price of $19.76 and a 200-day moving average price of $19.43.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the company earned ($0.78) EPS. As a group, equities analysts predict that Denali Therapeutics Inc. will post -2.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on DNLI. Robert W. Baird upped their price target on Denali Therapeutics from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Wolfe Research began coverage on Denali Therapeutics in a research note on Monday, February 23rd. They issued a “peer perform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Monday, April 20th. Wedbush lowered their target price on Denali Therapeutics from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Finally, The Goldman Sachs Group increased their target price on Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.25.

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.