Vanguard Group Inc. Increases Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Vanguard Group Inc. grew its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,021,230 shares of the company’s stock after purchasing an additional 843,996 shares during the period. Vanguard Group Inc. owned about 8.35% of Denali Therapeutics worth $244,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DNLI. Wellington Management Group LLP raised its holdings in Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after purchasing an additional 903,683 shares during the period. Fisher Asset Management LLC raised its stake in shares of Denali Therapeutics by 44.8% during the 4th quarter. Fisher Asset Management LLC now owns 792,499 shares of the company’s stock worth $16,151,000 after buying an additional 245,168 shares during the period. Principal Financial Group Inc. lifted its position in shares of Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after buying an additional 149,939 shares in the last quarter. Barclays PLC grew its stake in Denali Therapeutics by 101.4% in the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock valued at $7,454,000 after acquiring an additional 128,823 shares during the period. Finally, Yiheng Capital Management L.P. increased its holdings in Denali Therapeutics by 16.7% in the 4th quarter. Yiheng Capital Management L.P. now owns 700,098 shares of the company’s stock worth $14,268,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DNLI shares. JPMorgan Chase & Co. decreased their price objective on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. B. Riley reaffirmed a “buy” rating and issued a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. Bank of America cut their price objective on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Morgan Stanley began coverage on Denali Therapeutics in a research report on Friday, March 7th. They issued an “overweight” rating and a $33.00 target price on the stock. Finally, Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.20.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $11.78 on Friday. The firm has a 50 day simple moving average of $18.06 and a 200-day simple moving average of $22.66. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -4.27 and a beta of 1.58. Denali Therapeutics Inc. has a 1-year low of $11.33 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. Equities analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares in the company, valued at $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the sale, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,860 shares of company stock worth $909,039. 7.90% of the stock is currently owned by company insiders.

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.