Pier Capital LLC Acquires 164,237 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Pier Capital LLC lifted its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 97.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,319 shares of the company’s stock after purchasing an additional 164,237 shares during the quarter. Pier Capital LLC owned 0.23% of Denali Therapeutics worth $6,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its position in Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after buying an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 worth $109,223,000 after acquiring an additional 1,451,770 shares during the period. Wellington Management Group LLP raised its holdings in shares of Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after purchasing an additional 903,683 shares during the last quarter. Vanguard Group Inc. lifted its position in Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock valued at $244,993,000 after purchasing an additional 843,996 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new stake in Denali Therapeutics in the fourth quarter worth approximately $5,891,000. 92.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the sale, the chief executive officer now directly owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steve E. Krognes sold 3,339 shares of the 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 transaction, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. This trade represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 in the last three months. 7.90% of the stock is owned by company insiders.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $14.76 on Tuesday. Denali Therapeutics Inc. has a fifty-two week low of $14.01 and a fifty-two week high of $33.33. The company has a market capitalization of $2.14 billion, a P/E ratio of -5.35 and a beta of 1.46. The company has a fifty day moving average of $19.59 and a 200 day moving average of $23.54.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. Analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DNLI. B. Riley reiterated a “buy” rating and set a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Bank of America cut their target price on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.20.

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.