BNP Paribas Arbitrage SA raised its holdings in shares of Denali Therapeutics Inc (NASDAQ:DNLI) by 798.5% during the 1st quarter, Holdings Channel reports. The firm owned 10,656 shares of the company’s stock after acquiring an additional 9,470 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Denali Therapeutics were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DNLI. Quantamental Technologies LLC purchased a new stake in shares of Denali Therapeutics in the fourth quarter worth about $41,000. Legal & General Group Plc increased its position in shares of Denali Therapeutics by 16.3% in the fourth quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock worth $179,000 after purchasing an additional 1,212 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Denali Therapeutics in the fourth quarter worth approximately $182,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Denali Therapeutics in the fourth quarter worth approximately $194,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Denali Therapeutics by 13.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,436 shares of the company’s stock worth $216,000 after purchasing an additional 1,237 shares during the last quarter. 71.23% of the stock is currently owned by institutional investors and hedge funds.
In other Denali Therapeutics news, insider Carole Ho sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $25.01, for a total transaction of $25,010.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan J. Watts sold 18,333 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $22.18, for a total transaction of $406,625.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,000 shares of company stock worth $2,279,169. 21.20% of the stock is owned by company insiders.
Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.01). The company had revenue of $4.21 million during the quarter, compared to the consensus estimate of $12.88 million. Denali Therapeutics had a negative return on equity of 10.23% and a negative net margin of 38.84%. As a group, sell-side analysts predict that Denali Therapeutics Inc will post -1.42 earnings per share for the current year.
Several research analysts recently weighed in on DNLI shares. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Tuesday, January 29th. ValuEngine cut shares of Denali Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research cut shares of Denali Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th.
Denali Therapeutics Company Profile
Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.
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