5 Most Promising Biotech Stocks to Buy According to Analysts

3. Denali Therapeutics Inc. (NASDAQ:DNLI)

Upside Potential as of December 13: 160.81%

Number of Hedge Fund Holders: 19

Founded in 2015, San Francisco, California-based Denali Therapeutics Inc. (NASDAQ:DNLI) is a biopharmaceutical company developing a broad portfolio of product candidates engineered to cross the blood-brain barrier (BBB) for the treatment of neurodegenerative and lysosomal storage diseases.

On November 7, Denali Therapeutics Inc. (NASDAQ:DNLI) released its financial results and operational update for Q3 2023. It has a broad preclinical and clinical stage portfolio with programs that have shown significant results at different clinical study stages. The company had cash, cash equivalents, and marketable securities of nearly $1.1 billion, as of September 30.

As of Q3 2023, Denali Therapeutics Inc. (NASDAQ:DNLI) shares were owned by 19 hedge funds with the total shares held by them valued at $174 million. Its largest hedge fund shareholder was Baker Bros. Advisors with ownership of 2.3 million shares valued at $47 million.