Point72 Asset Management L.P. Has $11.18 Million Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Point72 Asset Management L.P. grew its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 64.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,739 shares of the company’s stock after acquiring an additional 215,209 shares during the period. Point72 Asset Management L.P. owned about 0.38% of Denali Therapeutics worth $11,183,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DNLI. Norges Bank acquired a new position in shares of Denali Therapeutics in the fourth quarter valued at $21,717,000. Vanguard Group Inc. boosted its holdings in shares of Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after buying an additional 843,996 shares during the period. Polar Asset Management Partners Inc. grew its stake in Denali Therapeutics by 1,240.9% in the 4th quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company’s stock valued at $11,231,000 after buying an additional 509,992 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Denali Therapeutics by 822.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company’s stock valued at $8,480,000 after acquiring an additional 370,966 shares during the period. Finally, Millennium Management LLC raised its holdings in Denali Therapeutics by 571.8% in the 4th quarter. Millennium Management LLC now owns 404,224 shares of the company’s stock valued at $8,238,000 after acquiring an additional 344,056 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Trading Down 2.7%

Shares of NASDAQ:DNLI opened at $13.78 on Monday. The firm has a 50 day moving average of $14.11 and a 200-day moving average of $19.55. Denali Therapeutics Inc. has a 12 month low of $10.57 and a 12 month high of $33.33. The stock has a market capitalization of $2.00 billion, a PE ratio of -4.99 and a beta of 1.49.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same quarter last year, the business posted ($0.68) EPS. On average, research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on DNLI. Bank of America decreased their target price on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Oppenheimer decreased their price objective on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Wedbush lowered their price objective on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Denali Therapeutics presently has an average rating of “Buy” and an average target price of $33.79.

About Denali Therapeutics

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.