Seven Eight Capital LP Acquires New Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Seven Eight Capital LP acquired a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 72,587 shares of the company’s stock, valued at approximately $1,558,000. Seven Eight Capital LP owned 0.05% of Denali Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in DNLI. Victory Capital Management Inc. boosted its stake in Denali Therapeutics by 5.5% during the third quarter. Victory Capital Management Inc. now owns 12,081 shares of the company’s stock valued at $249,000 after buying an additional 630 shares during the period. Jump Financial LLC bought a new stake in Denali Therapeutics during the third quarter valued at $408,000. Barclays PLC boosted its stake in Denali Therapeutics by 5.1% during the third quarter. Barclays PLC now owns 166,507 shares of the company’s stock valued at $3,435,000 after buying an additional 8,045 shares during the period. New York State Common Retirement Fund lifted its stake in Denali Therapeutics by 3.1% during the third quarter. New York State Common Retirement Fund now owns 129,853 shares of the company’s stock worth $2,679,000 after purchasing an additional 3,954 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Denali Therapeutics by 3.9% during the third quarter. Amalgamated Bank now owns 18,255 shares of the company’s stock worth $377,000 after purchasing an additional 679 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Down 2.5 %

NASDAQ:DNLI traded down $0.54 during mid-day trading on Friday, reaching $20.77. 792,584 shares of the company’s stock traded hands, compared to its average volume of 946,100. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $33.31. The company has a 50 day moving average price of $18.46 and a 200-day moving average price of $18.96.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.01. Denali Therapeutics had a negative return on equity of 11.46% and a negative net margin of 36.51%. During the same quarter in the prior year, the business posted ($0.80) EPS. Sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.78 EPS for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 92,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.50, for a total transaction of $1,896,250.00. Following the transaction, the director now owns 47,341 shares in the company, valued at approximately $970,490.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.29, for a total value of $30,471.14. Following the sale, the director now directly owns 118,043 shares of the company’s stock, valued at approximately $2,159,006.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steve E. Krognes sold 92,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.50, for a total value of $1,896,250.00. Following the completion of the sale, the director now directly owns 47,341 shares in the company, valued at $970,490.50. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DNLI shares. Stifel Nicolaus dropped their price target on Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Wedbush dropped their price target on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $95.00 price objective on shares of Denali Therapeutics in a report on Wednesday, May 8th. UBS Group decreased their price objective on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group decreased their price objective on Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

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.