Balyasny Asset Management L.P. Grows Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Balyasny Asset Management L.P. boosted its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 822.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 416,074 shares of the company’s stock after buying an additional 370,966 shares during the period. Balyasny Asset Management L.P. owned 0.29% of Denali Therapeutics worth $8,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Denali Therapeutics during the fourth quarter worth about $532,000. Proficio Capital Partners LLC purchased a new stake in Denali Therapeutics during the 4th quarter valued at approximately $514,000. JPMorgan Chase & Co. raised its position in shares of Denali Therapeutics by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after buying an additional 14,324 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after buying an additional 149,939 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after acquiring an additional 843,996 shares during the last quarter. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $14.39 on Friday. Denali Therapeutics Inc. has a 1 year low of $10.57 and a 1 year high of $33.33. The firm has a 50-day simple moving average of $14.27 and a two-hundred day simple moving average of $20.08. The company has a market cap of $2.09 billion, a P/E ratio of -5.21 and a beta of 1.49.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period in the previous year, the company earned ($0.68) earnings per share. As a group, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wedbush decreased their price target on shares of Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group decreased their target price on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. B. Riley reissued a “buy” rating and set a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. Cantor Fitzgerald raised Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Thursday, April 10th. Finally, William Blair upgraded Denali Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Denali Therapeutics has an average rating of “Buy” and a consensus price target of $33.79.

Denali Therapeutics 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.