Cantor Fitzgerald L. P. Takes Position in Denali Therapeutics Inc. $DNLI

Cantor Fitzgerald L. P. acquired a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 45,000 shares of the company’s stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Denali Therapeutics by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 11,992,918 shares of the company’s stock worth $174,137,000 after purchasing an additional 182,183 shares in the last quarter. Norges Bank purchased a new position in shares of Denali Therapeutics during the 2nd quarter valued at $55,224,000. Alliancebernstein L.P. increased its holdings in shares of Denali Therapeutics by 12.2% in the third quarter. Alliancebernstein L.P. now owns 3,520,414 shares of the company’s stock worth $51,116,000 after purchasing an additional 383,274 shares during the period. Geode Capital Management LLC increased its holdings in shares of Denali Therapeutics by 4.4% in the second quarter. Geode Capital Management LLC now owns 3,172,305 shares of the company’s stock worth $44,386,000 after purchasing an additional 135,129 shares during the period. Finally, Holocene Advisors LP raised its position in shares of Denali Therapeutics by 677.8% in the third quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock worth $45,531,000 after buying an additional 2,732,540 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Insider Buying and Selling 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 owned 282,828 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CEO Ryan J. Watts sold 35,198 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $580,767.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 12.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wedbush reduced their target price on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Wolfe Research initiated coverage on Denali Therapeutics in a research report on Monday, February 23rd. They set a “peer perform” rating for the company. Morgan Stanley reissued an “overweight” rating and set a $40.00 price objective on shares of Denali Therapeutics in a report on Thursday, January 8th. UBS Group assumed coverage on shares of Denali Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Denali Therapeutics in a research note on Monday, March 2nd. Two 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 assigned a Sell rating to the stock. According to MarketBeat.com, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $32.20.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock opened at $20.06 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.16 and a quick ratio of 9.16. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $23.77. The business’s 50 day simple moving average is $20.09 and its two-hundred day simple moving average is $17.60. The stock has a market capitalization of $3.18 billion, a P/E ratio of -6.75 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.02. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. 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.