Holocene Advisors LP Grows Stake in Denali Therapeutics Inc. $DNLI

Holocene Advisors LP increased its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 677.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,135,712 shares of the company’s stock after purchasing an additional 2,732,540 shares during the period. Holocene Advisors LP owned 2.14% of Denali Therapeutics worth $45,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Foresite Capital Management VI LLC acquired a new stake in Denali Therapeutics in the 3rd quarter worth about $14,520,000. Boxer Capital Management LLC purchased a new position in shares of Denali Therapeutics in the third quarter valued at approximately $3,630,000. Cinctive Capital Management LP boosted its stake in shares of Denali Therapeutics by 14.3% in the third quarter. Cinctive Capital Management LP now owns 27,792 shares of the company’s stock worth $404,000 after acquiring an additional 3,482 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Denali Therapeutics during the third quarter worth approximately $653,000. Finally, Bank of America Corp DE increased its position in shares of Denali Therapeutics by 47.8% during the third quarter. Bank of America Corp DE now owns 961,138 shares of the company’s stock worth $13,956,000 after purchasing an additional 310,916 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $20.57 on Tuesday. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $19.96 and a 200 day moving average price of $17.55. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $23.77. The stock has a market cap of $3.26 billion, a P/E ratio of -6.93 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. During the same quarter last year, the business earned ($0.67) earnings per share. Sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DNLI has been the topic of several recent research reports. UBS Group initiated coverage on shares of Denali Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating on the stock. BTIG Research raised their price target on shares of Denali Therapeutics from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, January 21st. Wolfe Research assumed coverage on shares of Denali Therapeutics in a research note on Monday, February 23rd. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus set a $37.00 target price on shares of Denali Therapeutics in a research note on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 35,198 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $580,767.00. Following the transaction, the chief executive officer directly owned 296,833 shares in the company, valued at approximately $4,897,744.50. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander O. Schuth sold 17,218 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $284,097.00. Following the completion of the transaction, the insider owned 282,828 shares of the company’s stock, valued at $4,666,662. The trade was a 5.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.50% of the stock is currently owned by insiders.

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.