VELA Investment Management LLC Invests $455,000 in Denali Therapeutics Inc. (NASDAQ:DNLI)

VELA Investment Management LLC bought a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,635 shares of the company’s stock, valued at approximately $455,000.

Other large investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in Denali Therapeutics during the first quarter worth approximately $831,000. Edgestream Partners L.P. bought a new stake in Denali Therapeutics during the first quarter worth approximately $2,301,000. Susquehanna Fundamental Investments LLC bought a new stake in Denali Therapeutics during the first quarter worth approximately $4,330,000. Swiss National Bank increased its stake in Denali Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock worth $4,477,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Denali Therapeutics during the first quarter valued at approximately $447,000. 92.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Bank of America boosted their target price on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Jefferies Financial Group boosted their target price on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald lowered Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $38.90.

Denali Therapeutics Stock Performance

NASDAQ:DNLI traded up $1.09 during trading hours on Friday, reaching $27.05. The company’s stock had a trading volume of 837,711 shares, compared to its average volume of 1,078,313. The company has a market capitalization of $3.87 billion, a P/E ratio of -9.49 and a beta of 1.38. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $32.13. The stock has a 50 day moving average price of $27.38 and a two-hundred day moving average price of $23.07.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. The business’s quarterly revenue was down 99.7% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. As a group, analysts predict that Denali Therapeutics Inc. will post -2.53 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the transaction, the director now owns 29,096 shares in the company, valued at $844,656.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the transaction, the chief executive officer now owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.

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.