Pictet Asset Management Holding SA Boosts Stock Position in Denali Therapeutics Inc. $DNLI

Pictet Asset Management Holding SA raised its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 92.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,558,865 shares of the company’s stock after purchasing an additional 1,229,757 shares during the period. Pictet Asset Management Holding SA’s holdings in Denali Therapeutics were worth $48,439,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Foresite Capital Management VI LLC acquired a new position in Denali Therapeutics in the third quarter worth about $14,520,000. Capricorn Fund Managers Ltd acquired a new position in shares of Denali Therapeutics in the 4th quarter worth approximately $1,027,000. Holocene Advisors LP increased its holdings in shares of Denali Therapeutics by 677.8% in the 3rd quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock valued at $45,531,000 after acquiring an additional 2,732,540 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Denali Therapeutics during the 3rd quarter valued at approximately $3,630,000. Finally, Baillie Gifford & Co. lifted its stake in Denali Therapeutics by 6.2% during the fourth quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock worth $203,253,000 after purchasing an additional 719,304 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on DNLI shares. Sanford C. Bernstein reiterated a “hold” rating on shares of Denali Therapeutics in a research note on Monday, June 22nd. Jefferies Financial Group restated a “buy” rating and issued a $40.00 price target on shares of Denali Therapeutics in a research report on Monday, March 2nd. The Goldman Sachs Group lifted their price target on shares of Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, March 26th. HC Wainwright boosted their price objective on shares of Denali Therapeutics from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.25.

Denali Therapeutics Price Performance

Shares of DNLI opened at $25.89 on Tuesday. The company has a market cap of $4.11 billion, a P/E ratio of -8.99 and a beta of 1.03. The stock has a fifty day moving average price of $20.68 and a 200 day moving average price of $19.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. Denali Therapeutics Inc. has a 12 month low of $12.58 and a 12 month high of $26.19.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the firm earned ($0.78) earnings per share. On average, research analysts forecast that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

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.