Strs Ohio cut its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI – Free Report) by 37.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,800 shares of the company’s stock after selling 8,100 shares during the period. Strs Ohio’s holdings in Denali Therapeutics were worth $407,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its stake in Denali Therapeutics by 34.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 1,851 shares of the company’s stock worth $43,000 after purchasing an additional 471 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Denali Therapeutics by 85.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,669 shares of the company’s stock worth $46,000 after purchasing an additional 768 shares in the last quarter. Sandia Investment Management LP acquired a new position in Denali Therapeutics in the fourth quarter worth about $70,000. Tower Research Capital LLC TRC grew its stake in Denali Therapeutics by 157.7% in the first quarter. Tower Research Capital LLC TRC now owns 4,005 shares of the company’s stock worth $92,000 after purchasing an additional 2,451 shares in the last quarter. Finally, Point72 Middle East FZE acquired a new position in Denali Therapeutics in the fourth quarter worth about $100,000. 78.04% of the stock is currently owned by institutional investors and hedge funds.
Denali Therapeutics Price Performance
Shares of NASDAQ:DNLI opened at $18.40 on Tuesday. Denali Therapeutics Inc. has a 12 month low of $18.07 and a 12 month high of $33.31. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -16.88 and a beta of 1.29. The stock’s 50 day moving average price is $21.69 and its 200 day moving average price is $25.94.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on DNLI. 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. TheStreet cut shares of Denali Therapeutics from a “c-” rating to a “d+” rating in a report on Wednesday, September 6th. HC Wainwright reissued a “buy” rating and issued a $105.00 target price on shares of Denali Therapeutics in a report on Thursday, August 31st. B. Riley assumed coverage on shares of Denali Therapeutics in a report on Wednesday, September 6th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 target price (down previously from $85.00) on shares of Denali Therapeutics in a report on Tuesday, October 24th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $50.00.
View Our Latest Research Report on Denali Therapeutics
Insider Buying and Selling
In related news, CEO Ryan J. Watts sold 2,526 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,239,913 shares of the company’s stock, valued at $56,065,022.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Denali Therapeutics news, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $20.66, for a total value of $34,419.56. Following the transaction, the director now owns 128,039 shares in the company, valued at $2,645,285.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan J. Watts sold 2,526 shares of Denali Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,239,913 shares in the company, valued at approximately $56,065,022.39. The disclosure for this sale can be found here. Insiders have sold a total of 28,083 shares of company stock valued at $651,353 over the last quarter. Corporate 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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