SG Americas Securities LLC Cuts Stock Holdings in Denali Therapeutics Inc. $DNLI

SG Americas Securities LLC lowered its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 68.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 46,642 shares of the company’s stock after selling 102,950 shares during the quarter. SG Americas Securities LLC’s holdings in Denali Therapeutics were worth $896,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Denali Therapeutics in the 2nd quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new stake in shares of Denali Therapeutics in the 3rd quarter worth $29,000. State of Wyoming purchased a new position in shares of Denali Therapeutics in the second quarter worth $29,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Denali Therapeutics in the fourth quarter worth $57,000. Finally, Quarry LP bought a new position in shares of Denali Therapeutics during the third quarter valued at $64,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on DNLI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Monday, April 20th. Morgan Stanley lowered their target price on shares of Denali Therapeutics from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. Wall Street Zen raised shares of Denali Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Leerink Partners reduced their price target on shares of Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, HC Wainwright boosted their price objective on shares of Denali Therapeutics from $32.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.25.

Denali Therapeutics Stock Performance

NASDAQ:DNLI opened at $25.83 on Monday. Denali Therapeutics Inc. has a one year low of $12.58 and a one year high of $26.80. The business has a fifty day moving average price of $21.12 and a 200-day moving average price of $20.05. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -8.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28.

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

About Denali Therapeutics

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.