Victory Capital Management Inc. Reduces Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Victory Capital Management Inc. cut its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 38,508 shares of the company’s stock after selling 1,392 shares during the quarter. Victory Capital Management Inc.’s holdings in Denali Therapeutics were worth $785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in Denali Therapeutics during the 3rd quarter worth approximately $73,000. KBC Group NV increased 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 worth $129,000 after purchasing an additional 2,731 shares during the last quarter. SG Americas Securities LLC increased its holdings in Denali Therapeutics by 128.8% during the 4th quarter. SG Americas Securities LLC now owns 11,003 shares of the company’s stock worth $224,000 after purchasing an additional 6,195 shares during the last quarter. Pitcairn Co. purchased a new stake in Denali Therapeutics during the 3rd quarter worth approximately $328,000. Finally, Bellevue Group AG purchased a new stake in Denali Therapeutics during the 3rd quarter worth approximately $457,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $14.61 on Friday. Denali Therapeutics Inc. has a 1 year low of $14.01 and a 1 year high of $33.33. The stock has a fifty day moving average of $19.78 and a two-hundred day moving average of $23.70. The firm has a market capitalization of $2.12 billion, a PE ratio of -5.29 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. Equities research analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DNLI shares. Bank of America lowered their price target on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target for the company. Oppenheimer lowered their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, December 16th. Finally, Robert W. Baird started coverage on Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price target for the company. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.20.

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares in the company, valued at $536,003.17. This represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the sale, the director now owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is owned by company insiders.

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.