Pier 88 Investment Partners LLC Has $971,000 Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Pier 88 Investment Partners LLC cut its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,240 shares of the company’s stock after selling 5,460 shares during the period. Pier 88 Investment Partners LLC’s holdings in Denali Therapeutics were worth $971,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DNLI. Assetmark Inc. grew its position in shares of Denali Therapeutics by 65.3% in the 4th quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock valued at $76,000 after purchasing an additional 1,402 shares during the period. Quest Partners LLC acquired a new position in shares of Denali Therapeutics in the fourth quarter valued at approximately $214,000. UBS Group AG increased its position in shares of Denali Therapeutics by 165.3% during the fourth quarter. UBS Group AG now owns 290,985 shares of the company’s stock worth $6,245,000 after acquiring an additional 181,289 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Denali Therapeutics by 18.8% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 27,429 shares of the company’s stock worth $589,000 after acquiring an additional 4,340 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Denali Therapeutics during the fourth quarter worth $24,736,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Denali Therapeutics

In other news, Director Vicki L. Sato sold 1,666 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.29, for a total transaction of $30,471.14. Following the transaction, the director now owns 118,043 shares in the company, valued at $2,159,006.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Denali Therapeutics news, Director Steve E. Krognes sold 92,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $20.50, for a total value of $1,896,250.00. Following the completion of the sale, the director now owns 47,341 shares of the company’s stock, valued at approximately $970,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 1,666 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.29, for a total transaction of $30,471.14. Following the transaction, the director now owns 118,043 shares in the company, valued at approximately $2,159,006.47. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.

Denali Therapeutics Price Performance

DNLI stock traded down $0.05 during midday trading on Friday, reaching $19.21. 813,112 shares of the company were exchanged, compared to its average volume of 1,015,374. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $33.31. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -20.01 and a beta of 1.39. The business has a 50-day moving average price of $18.58 and a two-hundred day moving average price of $18.85.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Tuesday, May 7th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.01. Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 11.46%. During the same quarter in the prior year, the business posted ($0.80) earnings per share. As a group, analysts anticipate that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DNLI. The Goldman Sachs Group reduced their price objective on Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. UBS Group lowered their price objective on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Wedbush reduced their target price on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Stifel Nicolaus cut their price target on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Finally, HC Wainwright restated a “buy” rating and issued a $95.00 price objective on shares of Denali Therapeutics in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $40.22.

Denali Therapeutics Company 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.