Creative Planning increased its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI – Free Report) by 37.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,201 shares of the company’s stock after buying an additional 3,853 shares during the quarter. Creative Planning’s holdings in Denali Therapeutics were worth $419,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in DNLI. Norges Bank bought a new position in Denali Therapeutics during the 4th quarter worth $28,483,000. State Street Corp grew its stake in shares of Denali Therapeutics by 26.4% in the first quarter. State Street Corp now owns 3,826,792 shares of the company’s stock worth $123,108,000 after purchasing an additional 799,221 shares in the last quarter. Millennium Management LLC bought a new position in shares of Denali Therapeutics in the second quarter worth $18,992,000. Temasek Holdings Private Ltd grew its stake in shares of Denali Therapeutics by 5.8% in the first quarter. Temasek Holdings Private Ltd now owns 6,895,992 shares of the company’s stock worth $158,884,000 after purchasing an additional 379,951 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Denali Therapeutics by 37.2% in the first quarter. Federated Hermes Inc. now owns 1,063,500 shares of the company’s stock worth $24,503,000 after purchasing an additional 288,500 shares in the last quarter. 78.04% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. TheStreet cut Denali Therapeutics from a “c-” rating to a “d+” rating in a research note on Wednesday, September 6th. HC Wainwright reissued a “buy” rating and issued a $105.00 price target on shares of Denali Therapeutics in a research note on Thursday, August 31st. Wedbush decreased their price target on Denali Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, August 9th. B. Riley started coverage on Denali Therapeutics in a research note on Wednesday, September 6th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Denali Therapeutics in a research note on Thursday, August 31st. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $54.17.
Denali Therapeutics Stock Down 3.0 %
Shares of NASDAQ DNLI opened at $18.32 on Friday. Denali Therapeutics Inc. has a 12 month low of $18.08 and a 12 month high of $33.31. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -16.81 and a beta of 1.29. The business has a fifty day simple moving average of $22.23 and a 200-day simple moving average of $26.13.
Denali Therapeutics (NASDAQ:DNLI – Get Free Report) last announced its earnings results on Tuesday, August 8th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of ($0.69) by $1.99. Denali Therapeutics had a negative return on equity of 12.81% and a negative net margin of 37.42%. The business had revenue of $294.10 million during the quarter, compared to the consensus estimate of $39.51 million. During the same period in the prior year, the business posted ($0.48) earnings per share. Denali Therapeutics’s revenue was up 460.2% compared to the same quarter last year. As a group, sell-side analysts expect that Denali Therapeutics Inc. will post -1.23 EPS for the current fiscal year.
Insider Activity
In other news, CEO Ryan J. Watts sold 2,526 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $25.03, for a total transaction of $63,225.78. Following the completion of the sale, the chief executive officer now directly owns 2,239,913 shares of the company’s stock, valued at $56,065,022.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Carole Ho sold 2,857 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $24.15, for a total value of $68,996.55. Following the completion of the sale, the insider now directly owns 185,577 shares of the company’s stock, valued at approximately $4,481,684.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 2,526 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $25.03, for a total value of $63,225.78. Following the completion of the sale, the chief executive officer now directly owns 2,239,913 shares of the company’s stock, valued at $56,065,022.39. The disclosure for this sale can be found here. Insiders sold a total of 28,083 shares of company stock valued at $651,353 over the last three months. Insiders own 7.90% of the company’s stock.
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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