TT International Asset Management LTD Acquires Shares of 65,000 Denali Therapeutics Inc. $DNLI

Key Points

• TT International Asset Management LTD acquired 65,000 shares of Denali Therapeutics Inc., valued at approximately $909,000 during the second quarter.
• Insider trading revealed Denali's CEO Ryan J. Watts sold a significant portion of his shares, totaling over $7.4 million, which reduced his ownership by 66.18%.
• Denali Therapeutics has a market cap of $1.91 billion and reported a loss in earnings per share (EPS) of ($0.72), slightly outperforming the expected estimate.

TT International Asset Management LTD acquired a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 65,000 shares of the company's stock, valued at approximately $909,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in Denali Therapeutics by 15.9% in the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock valued at $155,113,000 after purchasing an additional 1,561,647 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Denali Therapeutics by 88.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company's stock valued at $91,996,000 after purchasing an additional 3,184,042 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Denali Therapeutics by 42.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock valued at $59,373,000 after purchasing an additional 1,308,619 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Denali Therapeutics by 58.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company's stock valued at $22,732,000 after purchasing an additional 614,555 shares during the period. Finally, Millennium Management LLC boosted its holdings in Denali Therapeutics by 269.4% in the 1st quarter. Millennium Management LLC now owns 1,493,068 shares of the company's stock valued at $20,298,000 after purchasing an additional 1,088,844 shares during the period. 92.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

DNLI has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, August 18th. TD Cowen raised shares of Denali Therapeutics to a "strong-buy" rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Denali Therapeutics in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $33.50.

Denali Therapeutics Price Performance

Shares of DNLI stock traded up $0.57 during mid-day trading on Monday, reaching $13.32. The company's stock had a trading volume of 2,260,426 shares, compared to its average volume of 2,189,854. The company has a market cap of $1.95 billion, a P/E ratio of -4.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. The firm's 50-day moving average is $14.41 and its two-hundred day moving average is $14.26. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same quarter last year, the firm posted ($0.59) EPS. On average, research analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Alexander O. Schuth sold 2,937 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the sale, the insider owned 242,346 shares in the company, valued at $3,291,058.68. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the sale, the chief executive officer owned 253,071 shares of the company's stock, valued at $3,796,065. This trade represents a 66.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,962 shares of company stock worth $7,520,799 in the last quarter. 12.50% of the stock is owned by corporate insiders.

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.