State of New Jersey Common Pension Fund D Sells 92,253 Shares of Denali Therapeutics Inc. $DNLI

State of New Jersey Common Pension Fund D lessened its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 66.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 47,410 shares of the company’s stock after selling 92,253 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Denali Therapeutics were worth $783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the business. D.A. Davidson & CO. bought a new position in shares of Denali Therapeutics in the fourth quarter worth $1,765,000. Pictet Asset Management Holding SA increased its position in shares of Denali Therapeutics by 166.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,329,108 shares of the company’s stock valued at $21,981,000 after buying an additional 829,946 shares during the period. UBS Group AG lifted its holdings in shares of Denali Therapeutics by 19.5% in the fourth quarter. UBS Group AG now owns 2,404,704 shares of the company’s stock worth $39,702,000 after buying an additional 392,351 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Denali Therapeutics by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock valued at $215,586,000 after acquiring an additional 1,064,972 shares during the period. Finally, NBC Securities Inc. boosted its position in shares of Denali Therapeutics by 1,128.6% in the fourth quarter. NBC Securities Inc. now owns 6,536 shares of the company’s stock valued at $108,000 after acquiring an additional 6,004 shares during the period. 92.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on DNLI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a report on Monday, April 20th. The Goldman Sachs Group boosted their price target on shares of Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. HC Wainwright upped their price target on shares of Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Morgan Stanley increased their price objective on Denali Therapeutics from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Finally, Stifel Nicolaus lifted their price objective on Denali Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Denali Therapeutics Trading Up 0.3%

Shares of DNLI opened at $19.67 on Tuesday. Denali Therapeutics Inc. has a 1-year low of $12.58 and a 1-year high of $23.77. The company has a market capitalization of $3.12 billion, a P/E ratio of -6.83 and a beta of 0.99. 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 firm’s 50 day simple moving average is $20.10 and its 200 day simple moving average is $18.90.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the previous year, the firm posted ($0.78) earnings per share. Sell-side analysts forecast that Denali Therapeutics Inc. will post -2.86 earnings per share for the current fiscal year.

Denali Therapeutics Company 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.