Stifel Financial Corp Trims Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Stifel Financial Corp decreased its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 23.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,839 shares of the company’s stock after selling 3,008 shares during the period. Stifel Financial Corp’s holdings in Denali Therapeutics were worth $287,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. CWM LLC grew its position in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. Quest Partners LLC acquired a new position in shares of Denali Therapeutics in the 3rd quarter valued at $73,000. Assetmark Inc. grew its holdings in shares of Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after purchasing an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Denali Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after purchasing an additional 920 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Denali Therapeutics in the 2nd quarter valued at about $194,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Insider Activity

In other news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the sale, the director now owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,578 shares of company stock worth $2,474,440. 7.90% of the stock is currently owned by corporate insiders.

Denali Therapeutics Price Performance

DNLI stock opened at $20.61 on Friday. The business’s 50-day moving average is $25.19 and its two-hundred day moving average is $24.87. The firm has a market capitalization of $2.97 billion, a P/E ratio of -7.47 and a beta of 1.35. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the business earned ($0.72) EPS. On average, analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, December 16th. Bank of America lifted their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and an average target price of $40.40.

About Denali Therapeutics

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.