Norges Bank Invests $84.53 Million in Denali Therapeutics Inc. $DNLI

Norges Bank bought a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,119,622 shares of the company’s stock, valued at approximately $84,525,000. Norges Bank owned about 3.49% of Denali Therapeutics at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Denali Therapeutics in the second quarter worth $26,000. State of Wyoming purchased a new stake in shares of Denali Therapeutics in the second quarter worth $29,000. Johnson Financial Group Inc. purchased a new stake in shares of Denali Therapeutics in the third quarter worth $29,000. Quarry LP purchased a new stake in shares of Denali Therapeutics in the third quarter worth $64,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Denali Therapeutics in the fourth quarter worth $83,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Trading Down 3.1%

Shares of NASDAQ:DNLI opened at $19.52 on Friday. The company has a market cap of $3.10 billion, a P/E ratio of -6.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. Denali Therapeutics Inc. has a 1 year low of $12.58 and a 1 year high of $23.77. The stock’s fifty day moving average price is $19.63 and its 200-day moving average price is $19.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the company posted ($0.78) earnings per share. Sell-side analysts expect that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DNLI. Wolfe Research began coverage on Denali Therapeutics in a report on Monday, February 23rd. They set a “peer perform” rating on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Denali Therapeutics in a report on Monday, March 2nd. HC Wainwright upped their price target on Denali Therapeutics from $32.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft set a $31.00 price target on Denali Therapeutics in a report on Friday, May 22nd. Finally, The Goldman Sachs Group upped their price target on Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $34.25.

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.