Pier 88 Investment Partners LLC Buys 12,240 Shares of Denali Therapeutics Inc. $DNLI

Pier 88 Investment Partners LLC grew its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 27.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,150 shares of the company’s stock after buying an additional 12,240 shares during the period. Pier 88 Investment Partners LLC’s holdings in Denali Therapeutics were worth $800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DNLI. Campbell & CO Investment Adviser LLC boosted its holdings in Denali Therapeutics by 109.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 142,708 shares of the company’s stock valued at $1,996,000 after acquiring an additional 74,523 shares during the last quarter. Savvy Advisors Inc. acquired a new position in shares of Denali Therapeutics in the 2nd quarter worth approximately $1,368,000. Envestnet Asset Management Inc. lifted its position in shares of Denali Therapeutics by 6.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 33,538 shares of the company’s stock worth $469,000 after purchasing an additional 2,108 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Denali Therapeutics by 47.3% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 137,880 shares of the company’s stock valued at $1,929,000 after purchasing an additional 44,290 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Denali Therapeutics by 60.8% in the 2nd quarter. TD Asset Management Inc now owns 496,290 shares of the company’s stock valued at $6,943,000 after purchasing an additional 187,710 shares during the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Stock Up 4.2%

DNLI stock opened at $15.02 on Friday. The stock’s 50 day simple moving average is $15.08 and its 200 day simple moving average is $14.68. The company has a market cap of $2.20 billion, a P/E ratio of -5.16 and a beta of 1.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. Denali Therapeutics Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.02. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm posted ($0.63) earnings per share. On average, research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,937 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value of $39,884.46. Following the transaction, the insider directly owned 242,346 shares of the company’s stock, valued at approximately $3,291,058.68. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carole Ho sold 2,937 shares of Denali Therapeutics stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the transaction, the insider owned 217,391 shares of the company’s stock, valued at $2,952,169.78. This represents a 1.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,680 shares of company stock valued at $91,569. 12.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Morgan Stanley dropped their price objective on Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. Cantor Fitzgerald restated an “overweight” rating on shares of Denali Therapeutics in a research report on Monday, September 8th. Finally, TD Cowen raised Denali Therapeutics to a “strong-buy” rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $32.64.

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.