Point72 Hong Kong Ltd Invests $65,000 in Denali Therapeutics Inc. (NASDAQ:DNLI)

Point72 Hong Kong Ltd bought a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,175 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after acquiring an additional 1,516 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares during the period. KBC Group NV grew its stake in shares of Denali Therapeutics by 75.8% in the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after purchasing an additional 2,731 shares during the last quarter. AlphaQuest LLC increased its holdings in Denali Therapeutics by 177.1% during the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company’s stock valued at $142,000 after purchasing an additional 4,449 shares during the period. Finally, E Fund Management Co. Ltd. raised its position in Denali Therapeutics by 32.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company’s stock valued at $204,000 after purchasing an additional 2,436 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Stock Performance

DNLI stock opened at $13.78 on Friday. The firm has a 50 day moving average price of $14.11 and a 200-day moving average price of $19.59. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -4.99 and a beta of 1.49.

Denali Therapeutics (NASDAQ:DNLI) last announced 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 last year, the firm posted ($0.68) earnings per share. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $35.00 price objective (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Bank of America cut their price target on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, March 10th. HC Wainwright decreased their price objective on shares of Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. William Blair raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th. Finally, Morgan Stanley began coverage on shares of Denali Therapeutics in a research report on Friday, March 7th. They set an “overweight” rating and a $33.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $33.79.

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.