ExodusPoint Capital Management LP Acquires New Stake in Denali Therapeutics Inc. $DNLI

ExodusPoint Capital Management LP acquired a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,023,253 shares of the company’s stock, valued at approximately $16,894,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DNLI. Norges Bank bought a new position in Denali Therapeutics during the 4th quarter valued at approximately $84,525,000. Holocene Advisors LP increased its position in Denali Therapeutics by 677.8% during the 3rd quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock valued at $45,531,000 after buying an additional 2,732,540 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Denali Therapeutics by 77.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock valued at $63,329,000 after buying an additional 1,672,098 shares in the last quarter. Temasek Holdings Private Ltd increased its position in Denali Therapeutics by 30.9% during the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock valued at $115,784,000 after buying an additional 1,657,142 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Denali Therapeutics by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock valued at $215,586,000 after buying an additional 1,064,972 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DNLI shares. BTIG Research reaffirmed a “buy” rating and set a $39.00 price objective on shares of Denali Therapeutics in a research report on Monday, May 11th. Morgan Stanley reduced their price objective on Denali Therapeutics from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a report on Monday, April 20th. Wedbush reduced their target price on Denali Therapeutics from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, Leerink Partners reduced their target price on Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.25.

Denali Therapeutics Stock Performance

DNLI stock opened at $21.93 on Wednesday. The company has a market cap of $3.48 billion, a P/E ratio of -7.61 and a beta of 1.03. Denali Therapeutics Inc. has a 1 year low of $12.58 and a 1 year high of $23.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. The stock’s fifty day moving average price is $19.86 and its 200-day moving average price is $19.49.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the previous year, the company earned ($0.78) earnings per share. On average, equities analysts forecast that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Denali Therapeutics Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.