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Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by New York State Common Retirement Fund

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New York State Common Retirement Fund trimmed its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 13.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 156,893 shares of the company’s stock after selling 23,368 shares during the quarter. New York State Common Retirement Fund’s holdings in Denali Therapeutics were worth $7,915,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Tygh Capital Management Inc. acquired a new position in shares of Denali Therapeutics in the 3rd quarter worth $2,741,000. SG Americas Securities LLC grew its holdings in shares of Denali Therapeutics by 78.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,895 shares of the company’s stock worth $1,559,000 after acquiring an additional 13,625 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Denali Therapeutics by 68.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 7,510 shares of the company’s stock worth $379,000 after acquiring an additional 3,060 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Denali Therapeutics by 6.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 54,308 shares of the company’s stock worth $2,740,000 after acquiring an additional 3,448 shares during the last quarter. Finally, Virginia Retirement Systems ET AL grew its holdings in shares of Denali Therapeutics by 28.8% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 28,600 shares of the company’s stock worth $1,443,000 after acquiring an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 65.90% of the company’s stock.

In other Denali Therapeutics news, COO Alexander O. Schuth sold 10,000 shares of the business’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $42.27, for a total value of $422,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $52.81, for a total value of $87,981.46. The disclosure for this sale can be found here. Insiders sold 72,502 shares of company stock worth $3,321,874 in the last 90 days. Corporate insiders own 17.00% of the company’s stock.

Shares of NASDAQ DNLI opened at $47.27 on Tuesday. The business’s 50-day moving average price is $47.31 and its two-hundred day moving average price is $53.37. Denali Therapeutics Inc. has a one year low of $41.10 and a one year high of $84.25. The company has a market capitalization of $5.77 billion, a P/E ratio of 337.67 and a beta of 1.75.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, November 4th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.23). Denali Therapeutics had a net margin of 8.38% and a return on equity of 2.72%. The firm had revenue of $5.29 million during the quarter, compared to analysts’ expectations of $30.28 million. During the same quarter last year, the firm earned ($0.54) EPS. The business’s revenue for the quarter was down 43.7% compared to the same quarter last year. On average, equities research analysts forecast that Denali Therapeutics Inc. will post -2.21 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Denali Therapeutics from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a report on Friday, November 19th. Evercore ISI lifted their price target on Denali Therapeutics from $70.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, November 5th. Finally, Oppenheimer assumed coverage on Denali Therapeutics in a report on Monday, September 20th. They set an “outperform” rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Buy” and an average target price of $87.75.

About Denali Therapeutics

Denali Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates for neurodegenerative diseases. Its product pipeline includes LRRK2, RIPK1, TREM2, and Tau. The company was founded by Ryan J. Watts, Marc Tessier-Lavigne, and Alexander Schuth on October 14, 2013 and is headquartered in San Francisco, CA.

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