Pictet Asset Management Holding SA Boosts Stake in Denali Therapeutics Inc. $DNLI

Pictet Asset Management Holding SA grew its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 92.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,558,865 shares of the company’s stock after purchasing an additional 1,229,757 shares during the period. Pictet Asset Management Holding SA owned approximately 1.61% of Denali Therapeutics worth $48,439,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. State of Wyoming raised its holdings in Denali Therapeutics by 24.7% in the fourth quarter. State of Wyoming now owns 2,686 shares of the company’s stock valued at $44,000 after buying an additional 532 shares during the period. Intrust Bank NA grew its stake in Denali Therapeutics by 5.6% during the fourth quarter. Intrust Bank NA now owns 11,164 shares of the company’s stock worth $184,000 after buying an additional 589 shares during the period. ADAR1 Capital Management LLC increased its position in shares of Denali Therapeutics by 1.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 52,116 shares of the company’s stock worth $860,000 after acquiring an additional 600 shares in the last quarter. Pier 88 Investment Partners LLC increased its position in shares of Denali Therapeutics by 1.1% in the fourth quarter. Pier 88 Investment Partners LLC now owns 68,200 shares of the company’s stock worth $1,126,000 after acquiring an additional 760 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in shares of Denali Therapeutics by 1.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 56,368 shares of the company’s stock valued at $818,000 after acquiring an additional 920 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DNLI shares. Wedbush reduced their target price on shares of Denali Therapeutics from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Leerink Partners cut their price objective on Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Stifel Nicolaus set a $41.00 price objective on Denali Therapeutics in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft set a $31.00 target price on Denali Therapeutics in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group raised their target price on Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and an average target price of $34.25.

Denali Therapeutics Price Performance

Shares of DNLI stock opened at $25.89 on Tuesday. The firm has a fifty day simple moving average of $20.68 and a 200-day simple moving average of $19.81. The company has a market capitalization of $4.11 billion, a PE ratio of -8.99 and a beta of 1.03. Denali Therapeutics Inc. has a twelve month low of $12.58 and a twelve month high of $26.19. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter in the previous year, the company posted ($0.78) EPS. Equities research analysts anticipate that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

Denali Therapeutics Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.