1,000,000 Shares in Denali Therapeutics Inc. $DNLI Purchased by Foresite Capital Management VI LLC

Foresite Capital Management VI LLC purchased a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,000,000 shares of the company’s stock, valued at approximately $14,520,000. Denali Therapeutics comprises approximately 5.6% of Foresite Capital Management VI LLC’s holdings, making the stock its 6th largest position. Foresite Capital Management VI LLC owned approximately 0.68% of Denali Therapeutics as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Denali Therapeutics during the 2nd quarter worth approximately $55,224,000. UBS Group AG increased its position in Denali Therapeutics by 111.7% in the third quarter. UBS Group AG now owns 2,012,353 shares of the company’s stock worth $29,219,000 after purchasing an additional 1,061,589 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Denali Therapeutics by 58.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock worth $22,732,000 after purchasing an additional 614,555 shares during the last quarter. Holocene Advisors LP purchased a new stake in Denali Therapeutics during the second quarter valued at $5,640,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Denali Therapeutics during the second quarter valued at $5,548,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DNLI. UBS Group assumed coverage on shares of Denali Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating for the company. Jefferies Financial Group restated a “buy” rating and set a $40.00 target price on shares of Denali Therapeutics in a research report on Monday, March 2nd. Stifel Nicolaus set a $37.00 price target on shares of Denali Therapeutics in a report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, January 21st. Finally, Wedbush reduced their price objective on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.20.

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 35,198 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $580,767.00. Following the completion of the sale, the chief executive officer directly owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. This trade represents a 10.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander O. Schuth sold 17,218 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $284,097.00. Following the completion of the transaction, the insider directly owned 282,828 shares in the company, valued at $4,666,662. This trade represents a 5.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 12.50% of the company’s stock.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $20.57 on Monday. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $23.77. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $19.87 and a 200-day moving average price of $17.51. The firm has a market capitalization of $3.26 billion, a PE ratio of -6.93 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02. During the same quarter in the prior year, the company earned ($0.67) EPS. As a group, equities research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current 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.