Cinctive Capital Management LP Lowers Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Cinctive Capital Management LP cut its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,445 shares of the company’s stock after selling 18,649 shares during the quarter. Cinctive Capital Management LP owned approximately 0.09% of Denali Therapeutics worth $2,658,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Denali Therapeutics by 20.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 206,819 shares of the company’s stock worth $6,025,000 after buying an additional 34,538 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Denali Therapeutics by 230.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 27,625 shares of the company’s stock valued at $805,000 after acquiring an additional 19,259 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Denali Therapeutics by 12.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,719 shares of the company’s stock valued at $866,000 after acquiring an additional 3,316 shares during the period. Erste Asset Management GmbH purchased a new position in Denali Therapeutics in the 3rd quarter worth $792,000. Finally, Holocene Advisors LP lifted its position in Denali Therapeutics by 65.0% during the 3rd quarter. Holocene Advisors LP now owns 97,447 shares of the company’s stock worth $2,839,000 after acquiring an additional 38,405 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on DNLI. Morgan Stanley started coverage on Denali Therapeutics in a research note on Friday, March 7th. They issued an “overweight” rating and a $33.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a report on Friday, February 28th. Finally, Oppenheimer reduced their price objective on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.20.

Denali Therapeutics Trading Up 11.8 %

NASDAQ DNLI opened at $13.74 on Thursday. The stock has a fifty day simple moving average of $18.48 and a 200-day simple moving average of $22.91. The stock has a market cap of $2.00 billion, a PE ratio of -4.98 and a beta of 1.58. Denali Therapeutics Inc. has a twelve month low of $12.05 and a twelve month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. Research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now owns 260,721 shares in the company, valued at $5,271,778.62. This represents a 10.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carole Ho sold 12,255 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,860 shares of company stock valued at $909,039 in the last 90 days. Company insiders own 7.90% of the company’s stock.

About Denali Therapeutics

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.