American Century Companies Inc. Has $12.14 Million Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

American Century Companies Inc. grew its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 522,594 shares of the company’s stock after purchasing an additional 63,058 shares during the period. American Century Companies Inc. owned about 0.37% of Denali Therapeutics worth $12,135,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DNLI. Pier 88 Investment Partners LLC increased its stake in Denali Therapeutics by 73.6% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 69,370 shares of the company’s stock worth $1,611,000 after acquiring an additional 29,400 shares during the period. Letko Brosseau & Associates Inc. bought a new position in shares of Denali Therapeutics in the second quarter worth $264,000. Candriam S.C.A. raised its stake in Denali Therapeutics by 62.2% in the second quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock valued at $16,869,000 after purchasing an additional 278,621 shares in the last quarter. Arizona State Retirement System lifted its position in Denali Therapeutics by 9.0% during the second quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock worth $769,000 after purchasing an additional 2,730 shares during the period. Finally, TD Asset Management Inc increased its holdings in Denali Therapeutics by 4.5% in the 2nd quarter. TD Asset Management Inc now owns 179,152 shares of the company’s stock valued at $4,160,000 after buying an additional 7,766 shares during the period. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Trading Down 0.5 %

Shares of DNLI stock opened at $30.91 on Friday. The business’s 50-day moving average price is $24.75 and its 200-day moving average price is $21.49. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $32.13. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -32.20 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. During the same quarter last year, the company posted $1.30 earnings per share. The company’s revenue was down 99.7% compared to the same quarter last year. On average, sell-side analysts predict that Denali Therapeutics Inc. will post -2.54 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 dated Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the sale, the director now owns 34,404 shares of the company’s stock, valued at $761,016.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 7.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of Denali Therapeutics in a report on Monday, September 9th. JPMorgan Chase & Co. raised their target price on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Wedbush decreased their price target on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Bank of America upped their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup lifted their target price on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Denali Therapeutics Company 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.