Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lessened its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 14.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,170 shares of the company’s stock after selling 10,200 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Denali Therapeutics were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. MONECO Advisors LLC boosted its holdings in shares of Denali Therapeutics by 4.6% during the third quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock worth $265,000 after purchasing an additional 400 shares during the last quarter. Assetmark Inc. boosted its stake in Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after buying an additional 580 shares during the last quarter. CWM LLC increased its stake in shares of Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after acquiring an additional 654 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Denali Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after acquiring an additional 920 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Denali Therapeutics by 5.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock worth $613,000 after purchasing an additional 1,372 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Insider Activity

In other Denali Therapeutics news, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the transaction, the insider now owns 178,066 shares of the company’s stock, valued at $5,325,954.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Denali Therapeutics 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 value of $465,339.78. Following the sale, the insider now directly owns 178,066 shares of the company’s stock, valued at $5,325,954.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 86,578 shares of company stock valued at $2,474,440. Company insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DNLI shares. Wedbush cut their target price on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald lowered Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Citigroup raised their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group increased their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.90.

Denali Therapeutics Stock Performance

NASDAQ:DNLI opened at $29.63 on Thursday. The business’s 50-day simple moving average is $28.14 and its 200 day simple moving average is $23.88. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $33.33. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -10.74 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last released its 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 previous year, the company posted ($0.72) EPS. On average, equities research analysts predict that Denali Therapeutics Inc. will post -2.66 EPS for the current year.

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.