Seven Eight Capital LP Sells 52,046 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Seven Eight Capital LP cut its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 71.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,541 shares of the company’s stock after selling 52,046 shares during the quarter. Seven Eight Capital LP’s holdings in Denali Therapeutics were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. grew its position in shares of Denali Therapeutics by 65.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 165,680 shares of the company’s stock valued at $3,555,000 after purchasing an additional 65,800 shares during the period. Pathway Capital Management LP acquired a new position in shares of Denali Therapeutics in the 4th quarter valued at approximately $1,490,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Denali Therapeutics in the 1st quarter valued at approximately $4,330,000. Edgestream Partners L.P. acquired a new position in shares of Denali Therapeutics in the 1st quarter valued at approximately $2,301,000. Finally, Swiss National Bank grew its position in shares of Denali Therapeutics by 0.7% in the 1st quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after purchasing an additional 1,500 shares during the period. 92.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DNLI has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. UBS Group reduced their price target on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Wedbush reduced their price target on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $95.00 price target on shares of Denali Therapeutics in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their price target on Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Denali Therapeutics Stock Performance

DNLI traded down $0.27 during trading hours on Wednesday, reaching $23.61. The company’s stock had a trading volume of 795,038 shares, compared to its average volume of 1,189,537. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $28.75. The company’s 50-day moving average is $21.26 and its 200-day moving average is $19.36. The firm has a market cap of $3.37 billion, a PE ratio of -24.89 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.01. During the same period in the prior year, the firm posted ($0.80) EPS. Equities analysts anticipate that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the sale, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the sale, the director now directly owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the sale, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The disclosure for this sale can be found here. Insiders have sold 32,146 shares of company stock worth $710,274 in the last 90 days. Company insiders own 7.90% of the company’s stock.

About Denali Therapeutics

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.