Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,054,523 shares of the company’s stock after selling 36,495 shares during the quarter. Artisan Partners Limited Partnership owned 0.73% of Denali Therapeutics worth $21,491,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of Denali Therapeutics during the third quarter valued at approximately $73,000. PNC Financial Services Group Inc. grew its holdings in Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after purchasing an additional 885 shares in the last quarter. KBC Group NV increased its stake in Denali Therapeutics by 75.8% during the 4th quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after buying an additional 2,731 shares during the period. AlphaQuest LLC lifted its holdings in Denali Therapeutics by 177.1% in the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company’s stock worth $142,000 after buying an additional 4,449 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in shares of Denali Therapeutics by 32.2% during the fourth quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company’s stock valued at $204,000 after acquiring an additional 2,436 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 29,266 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now owns 260,721 shares in the company, valued at $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the sale, the director now directly owns 107,976 shares in the company, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock worth $973,442 over the last ninety days. 7.90% of the stock is currently owned by corporate insiders.

Denali Therapeutics Trading Up 4.1 %

Shares of NASDAQ DNLI opened at $14.78 on Friday. Denali Therapeutics Inc. has a 12-month low of $13.67 and a 12-month high of $33.33. The company has a market cap of $2.15 billion, a PE ratio of -5.36 and a beta of 1.46. The stock has a 50 day simple moving average of $19.05 and a 200-day simple moving average of $23.25.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. Sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DNLI shares. The Goldman Sachs Group cut their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Baird R W raised Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. B. Riley reiterated a “buy” rating and issued a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price target on the stock. Finally, HC Wainwright lifted their price objective on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

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.