Cibc World Markets Corp Buys Shares of 11,633 Denali Therapeutics Inc. (NASDAQ:DNLI)

Cibc World Markets Corp purchased a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 11,633 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its position in shares of Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after acquiring an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after buying an additional 1,451,770 shares during the period. Wellington Management Group LLP lifted its stake in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after buying an additional 903,683 shares during the period. Fisher Asset Management LLC grew its position in shares of Denali Therapeutics by 44.8% during the 4th quarter. Fisher Asset Management LLC now owns 792,499 shares of the company’s stock worth $16,151,000 after buying an additional 245,168 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after buying an additional 149,939 shares during the period. 92.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DNLI shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price objective for the company. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley began coverage on Denali Therapeutics in a report on Friday, March 7th. They set an “overweight” rating and a $33.00 target price on the stock. Oppenheimer lowered their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

Denali Therapeutics Trading Down 4.3 %

Shares of DNLI opened at $14.12 on Wednesday. Denali Therapeutics Inc. has a 12 month low of $14.01 and a 12 month high of $33.33. The firm has a fifty day simple moving average of $19.50 and a 200 day simple moving average of $23.46. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -5.12 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. As a group, research analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the sale, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock valued at $973,442 in the last 90 days. 7.90% of the stock is currently owned by insiders.

Denali Therapeutics Company 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.