Pier 88 Investment Partners LLC Has $925,000 Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Pier 88 Investment Partners LLC reduced its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 23.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,410 shares of the company’s stock after selling 13,760 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Denali Therapeutics were worth $925,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DNLI. Quest Partners LLC acquired a new stake in Denali Therapeutics in the 3rd quarter valued at approximately $73,000. The Manufacturers Life Insurance Company grew its stake in shares of Denali Therapeutics by 20.0% in the third quarter. The Manufacturers Life Insurance Company now owns 206,819 shares of the company’s stock worth $6,025,000 after acquiring an additional 34,538 shares during the last quarter. FMR LLC grew its stake in shares of Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after acquiring an additional 7,596,508 shares during the last quarter. BNP Paribas Financial Markets increased its position in Denali Therapeutics by 230.2% during the third quarter. BNP Paribas Financial Markets now owns 27,625 shares of the company’s stock worth $805,000 after acquiring an additional 19,259 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Denali Therapeutics by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,719 shares of the company’s stock valued at $866,000 after purchasing an additional 3,316 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

Insider Transactions at Denali Therapeutics

In related news, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the sale, the director now directly owns 107,976 shares in the company, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the transaction, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,940 shares of company stock worth $973,442. Corporate insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

DNLI has been the topic of several research reports. William Blair restated an “outperform” rating on shares of Denali Therapeutics in a report on Friday, February 28th. The Goldman Sachs Group lowered their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Bank of America reduced their target price on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Denali Therapeutics Price Performance

NASDAQ DNLI opened at $14.78 on Monday. The stock’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $23.21. Denali Therapeutics Inc. has a one year low of $13.67 and a one year high of $33.33. The firm has a market cap of $2.15 billion, a PE ratio of -5.36 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. As a group, equities analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Denali Therapeutics Company 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.