Norges Bank Acquires Shares of 3,947,387 Denali Therapeutics Inc. $DNLI

Norges Bank acquired a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,947,387 shares of the company’s stock, valued at approximately $55,224,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DNLI. Caitong International Asset Management Co. Ltd increased its holdings in shares of Denali Therapeutics by 277.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company’s stock worth $29,000 after acquiring an additional 1,551 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Denali Therapeutics during the first quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Denali Therapeutics by 15.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,612 shares of the company’s stock valued at $79,000 after purchasing an additional 753 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Denali Therapeutics by 120.1% in the second quarter. PNC Financial Services Group Inc. now owns 8,236 shares of the company’s stock valued at $115,000 after purchasing an additional 4,494 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Denali Therapeutics in the first quarter valued at about $152,000. 92.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on DNLI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, October 8th. Morgan Stanley cut their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Denali Therapeutics in a research report on Monday, September 8th. Stifel Nicolaus set a $37.00 target price on Denali Therapeutics in a research note on Monday, November 17th. Finally, Wedbush boosted their price target on Denali Therapeutics from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Denali Therapeutics currently has an average rating of “Buy” and an average target price of $32.67.

Denali Therapeutics Stock Down 0.7%

Shares of DNLI opened at $19.96 on Friday. Denali Therapeutics Inc. has a 12 month low of $10.57 and a 12 month high of $26.18. The firm’s 50 day moving average is $16.68 and its 200-day moving average is $15.12. The stock has a market capitalization of $2.93 billion, a PE ratio of -6.86 and a beta of 1.11. The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.02. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.63) earnings per share. Equities research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

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.