Fred Alger Management LLC Sells 29,509 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Fred Alger Management LLC lowered its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,807 shares of the company’s stock after selling 29,509 shares during the quarter. Fred Alger Management LLC owned 0.06% of Denali Therapeutics worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock valued at $244,993,000 after acquiring an additional 843,996 shares during the last quarter. FMR LLC boosted its holdings in shares of Denali Therapeutics by 2.4% in the 4th quarter. FMR LLC now owns 8,019,746 shares of the company’s stock worth $163,442,000 after purchasing an additional 188,368 shares during the period. Alliancebernstein L.P. increased its position in shares of Denali Therapeutics by 8.8% during the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company’s stock valued at $67,573,000 after purchasing an additional 268,378 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Denali Therapeutics by 6.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company’s stock valued at $62,335,000 after buying an additional 188,820 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Denali Therapeutics by 19.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company’s stock valued at $37,805,000 after buying an additional 295,594 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Oppenheimer cut their price objective on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Wedbush cut their price target on shares of Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group decreased their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. B. Riley reiterated a “buy” rating and issued a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Finally, William Blair raised Denali Therapeutics to a “strong-buy” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $33.79.

Denali Therapeutics Stock Performance

NASDAQ DNLI opened at $14.39 on Friday. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $33.33. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -5.21 and a beta of 1.49. The company’s 50-day simple moving average is $14.27 and its two-hundred day simple moving average is $20.08.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same quarter in the previous year, the company posted ($0.68) EPS. Equities analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal 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.