HighTower Advisors LLC Sells 587 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

HighTower Advisors LLC decreased its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,327 shares of the company’s stock after selling 587 shares during the quarter. HighTower Advisors LLC’s holdings in Denali Therapeutics were worth $1,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Holocene Advisors LP raised its position in Denali Therapeutics by 65.0% in the third quarter. Holocene Advisors LP now owns 97,447 shares of the company’s stock valued at $2,839,000 after purchasing an additional 38,405 shares during the last quarter. Cinctive Capital Management LP increased its stake in shares of Denali Therapeutics by 32.7% in the third quarter. Cinctive Capital Management LP now owns 149,094 shares of the company’s stock valued at $4,343,000 after buying an additional 36,771 shares during the period. Erste Asset Management GmbH bought a new position in Denali Therapeutics in the 3rd quarter valued at approximately $792,000. Bellevue Group AG acquired a new stake in Denali Therapeutics during the 3rd quarter worth approximately $457,000. Finally, Fred Alger Management LLC grew its holdings in Denali Therapeutics by 349.1% during the 3rd quarter. Fred Alger Management LLC now owns 121,316 shares of the company’s stock worth $3,534,000 after acquiring an additional 94,302 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Jefferies Financial Group increased their price target on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America lifted their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.40.

Insider Transactions at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the transaction, the insider now owns 178,066 shares in the company, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,578 shares of company stock worth $2,474,440 in the last quarter. Insiders own 7.90% of the company’s stock.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock opened at $23.22 on Wednesday. The firm has a market cap of $3.34 billion, a PE ratio of -8.41 and a beta of 1.35. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $33.33. The stock has a fifty day moving average price of $26.21 and a 200-day moving average price of $24.88.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the prior year, the company posted ($0.72) EPS. As a group, equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Denali Therapeutics 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.