Bayesian Capital Management LP Acquires Shares of 21,800 Denali Therapeutics Inc. (NASDAQ:DNLI)

Bayesian Capital Management LP bought a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) during the first quarter, Holdings Channel reports. The fund bought 21,800 shares of the company’s stock, valued at approximately $447,000.

A number of other institutional investors have also recently added to or reduced their stakes in DNLI. EP Wealth Advisors LLC acquired a new stake in shares of Denali Therapeutics in the first quarter valued at about $831,000. Edmond DE Rothschild Holding S.A. grew its stake in shares of Denali Therapeutics by 65.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 165,680 shares of the company’s stock valued at $3,555,000 after buying an additional 65,800 shares during the period. Pathway Capital Management LP acquired a new stake in shares of Denali Therapeutics during the 4th quarter worth approximately $1,490,000. Edgestream Partners L.P. purchased a new stake in shares of Denali Therapeutics during the 1st quarter valued at approximately $2,301,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Denali Therapeutics in the first quarter worth approximately $4,330,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DNLI. Stifel Nicolaus reduced their price objective on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of Denali Therapeutics in a report on Wednesday, May 8th. UBS Group lowered their price target on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Wedbush decreased their target price on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now owns 34,404 shares of the company’s stock, valued at $761,016.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jennifer E. Cook sold 1,458 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares of the company’s stock, valued at $435,425.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the sale, the director now owns 34,404 shares in the company, valued at $761,016.48. The disclosure for this sale can be found here. Insiders have sold a total of 32,146 shares of company stock valued at $710,274 over the last quarter. Company insiders own 7.90% of the company’s stock.

Denali Therapeutics Price Performance

DNLI stock traded up $0.23 on Wednesday, reaching $24.44. The company had a trading volume of 22,844 shares, compared to its average volume of 1,169,627. The company’s fifty day moving average is $21.63 and its 200 day moving average is $19.53. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $28.75.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.01. During the same quarter last year, the business posted ($0.80) earnings per share. On average, sell-side analysts expect that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

About Denali Therapeutics

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.