Twinbeech Capital LP Invests $5.19 Million in Denali Therapeutics Inc. (NASDAQ:DNLI)

Twinbeech Capital LP purchased a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 254,586 shares of the company’s stock, valued at approximately $5,188,000. Twinbeech Capital LP owned 0.18% of Denali Therapeutics at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC grew its holdings in shares of Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after purchasing an additional 1,516 shares during the period. Point72 Hong Kong Ltd purchased a new position in Denali Therapeutics during the 4th quarter valued at about $65,000. PNC Financial Services Group Inc. boosted its holdings in Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after acquiring an additional 885 shares during the period. KBC Group NV boosted its holdings in Denali Therapeutics by 75.8% during the 4th quarter. KBC Group NV now owns 6,334 shares of the company’s stock valued at $129,000 after acquiring an additional 2,731 shares during the period. Finally, AlphaQuest LLC boosted its holdings in Denali Therapeutics by 177.1% during the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company’s stock valued at $142,000 after acquiring an additional 4,449 shares during the period. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DNLI has been the subject of a number of research analyst reports. HC Wainwright lowered their target price on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Wedbush lowered their target price on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their target price on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Oppenheimer lowered their target price on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Bank of America lowered their target price on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Denali Therapeutics presently has an average rating of “Buy” and an average price target of $33.71.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $14.29 on Wednesday. Denali Therapeutics Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $33.33. The firm has a market capitalization of $2.08 billion, a PE ratio of -5.18 and a beta of 1.49. The stock’s 50-day simple moving average is $14.05 and its 200-day simple moving average is $19.42.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period last year, the business earned ($0.68) earnings per share. On average, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

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.