Rafferty Asset Management LLC Purchases 60,624 Shares of Denali Therapeutics Inc. $DNLI

Rafferty Asset Management LLC grew its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 49.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 182,886 shares of the company’s stock after buying an additional 60,624 shares during the period. Rafferty Asset Management LLC’s holdings in Denali Therapeutics were worth $2,656,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DNLI. Headlands Technologies LLC acquired a new stake in Denali Therapeutics in the 2nd quarter valued at $26,000. State of Wyoming acquired a new position in shares of Denali Therapeutics during the second quarter valued at about $29,000. PNC Financial Services Group Inc. increased its position in shares of Denali Therapeutics by 120.1% during the second quarter. PNC Financial Services Group Inc. now owns 8,236 shares of the company’s stock worth $115,000 after acquiring an additional 4,494 shares in the last quarter. Intrust Bank NA acquired a new stake in shares of Denali Therapeutics in the 3rd quarter worth about $154,000. Finally, MONECO Advisors LLC raised its holdings in shares of Denali Therapeutics by 19.1% in the 3rd quarter. MONECO Advisors LLC now owns 12,478 shares of the company’s stock worth $181,000 after acquiring an additional 2,000 shares during the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wolfe Research began coverage on Denali Therapeutics in a research note on Monday, February 23rd. They set a “peer perform” rating for the company. UBS Group started coverage on Denali Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating on the stock. BTIG Research increased their price target on Denali Therapeutics from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday. Wedbush dropped 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. Finally, Stifel Nicolaus set a $37.00 target price on shares of Denali Therapeutics in a research note on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $20.37 on Thursday. The business’s fifty day simple moving average is $19.29 and its 200 day simple moving average is $17.23. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 12 month low of $10.57 and a 12 month high of $23.77. The firm has a market capitalization of $3.23 billion, a P/E ratio of -6.86 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.02. During the same period in the previous year, the business earned ($0.67) EPS. As a group, analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 17,218 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $284,097.00. Following the transaction, the insider directly owned 282,828 shares in the company, valued at $4,666,662. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief executive officer owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. The trade was a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 12.50% of the company’s stock.

Denali Therapeutics Company 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.