Credit Suisse AG raised its position in Denali Therapeutics Inc. (NASDAQ:DNLI – Free Report) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,553,472 shares of the company’s stock after buying an additional 20,089 shares during the period. Credit Suisse AG owned approximately 1.14% of Denali Therapeutics worth $35,792,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of DNLI. JPMorgan Chase & Co. raised its stake in shares of Denali Therapeutics by 17.1% in the 1st quarter. JPMorgan Chase & Co. now owns 97,372 shares of the company’s stock valued at $3,133,000 after purchasing an additional 14,227 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Denali Therapeutics by 55.6% in the 1st quarter. MetLife Investment Management LLC now owns 50,392 shares of the company’s stock valued at $1,621,000 after purchasing an additional 18,003 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Denali Therapeutics by 0.5% in the 1st quarter. Rhumbline Advisers now owns 97,145 shares of the company’s stock valued at $3,125,000 after purchasing an additional 496 shares in the last quarter. BlackRock Inc. raised its stake in shares of Denali Therapeutics by 0.9% in the 1st quarter. BlackRock Inc. now owns 8,185,740 shares of the company’s stock valued at $263,336,000 after purchasing an additional 74,918 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Denali Therapeutics by 13.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 878,224 shares of the company’s stock valued at $28,253,000 after purchasing an additional 106,027 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.
Denali Therapeutics Price Performance
Shares of DNLI stock opened at $23.27 on Tuesday. The stock has a market cap of $3.20 billion, a P/E ratio of -21.35 and a beta of 1.31. Denali Therapeutics Inc. has a one year low of $21.74 and a one year high of $34.78. The stock has a fifty day moving average price of $28.32 and a 200 day moving average price of $27.47.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Denali Therapeutics in a research note on Thursday, August 10th. Wedbush dropped their price objective on shares of Denali Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. Stifel Nicolaus dropped their price objective on shares of Denali Therapeutics to $30.00 in a research note on Tuesday, May 9th. TheStreet upgraded shares of Denali Therapeutics from a “d” rating to a “c-” rating in a research note on Friday, August 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $105.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, August 9th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $55.64.
Get Our Latest Research Report on Denali Therapeutics
Insider Activity
In related news, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $29.84, for a total value of $49,713.44. Following the completion of the sale, the director now directly owns 134,703 shares in the company, valued at $4,019,537.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Alexander O. Schuth sold 10,000 shares of Denali Therapeutics stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $29.60, for a total transaction of $296,000.00. Following the transaction, the insider now owns 528,691 shares in the company, valued at approximately $15,649,253.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $29.84, for a total value of $49,713.44. Following the completion of the sale, the director now directly owns 134,703 shares in the company, valued at approximately $4,019,537.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,149 shares of company stock worth $633,584. 7.90% of the stock is owned by corporate insiders.
About Denali Therapeutics
Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative and lysosomal diseases in the United States and internationally. It offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidate, including BIIB122/DNL151, a small molecule inhibitor, which is in phase I and phase Ib clinical trials for the treatment of Parkinson's disease; TAK-594/DNL593, which is in Phase I/II clinical trials for the treatment of frontotemporal dementia-granulin; TAK-920/DNL919, which is in Phase I clinical trials for the treatment of Alzheimer's disease.
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