American Century Companies Inc. Reduces Stock Position in Denali Therapeutics Inc. $DNLI

Key Points

• American Century Companies Inc. has reduced its holdings in Denali Therapeutics by 27.3%, now owning approximately 0.24% of the company, valued at $4.75 million.
• Insider Carole Ho sold a significant amount of shares, and CEO Ryan J. Watts also sold nearly 495,000 shares, indicating major insider activity with potential implications for investor confidence.
• Analysts have adjusted their price targets for Denali Therapeutics, with the consensus target dropping to $33.62, reflecting a cautious outlook despite three analysts rating it as a Strong Buy.

American Century Companies Inc. cut its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 349,420 shares of the company's stock after selling 131,109 shares during the period. American Century Companies Inc. owned about 0.24% of Denali Therapeutics worth $4,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC grew its stake in Denali Therapeutics by 2.7% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 40,275 shares of the company's stock worth $548,000 after acquiring an additional 1,058 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Denali Therapeutics by 277.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock valued at $29,000 after purchasing an additional 1,551 shares during the period. The Manufacturers Life Insurance Company grew its stake in Denali Therapeutics by 0.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 208,521 shares of the company's stock worth $4,250,000 after purchasing an additional 1,702 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in Denali Therapeutics by 20.7% during the 1st quarter. E Fund Management Co. Ltd. now owns 12,069 shares of the company's stock worth $164,000 after purchasing an additional 2,072 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in Denali Therapeutics during the 4th quarter valued at $62,000. Institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Down 1.0%

Shares of DNLI traded down $0.16 during midday trading on Wednesday, hitting $15.29. 1,926,109 shares of the company's stock traded hands, compared to its average volume of 1,452,973. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -5.47 and a beta of 1.23. Denali Therapeutics Inc. has a 1 year low of $10.57 and a 1 year high of $33.33. The firm's fifty day moving average is $14.50 and its 200-day moving average is $14.74.

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, beating the consensus estimate of ($0.74) by $0.02. During the same period last year, the business earned ($0.59) EPS. As a group, sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insider Activity

In other Denali Therapeutics news, insider Carole Ho sold 2,937 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the transaction, the insider owned 217,391 shares in the company, valued at approximately $2,952,169.78. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan J. Watts sold 495,282 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 253,071 shares of the company's stock, valued at approximately $3,796,065. This represents a 66.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 501,962 shares of company stock worth $7,520,799 over the last 90 days. 12.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DNLI shares. Bank of America dropped their price target on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Morgan Stanley dropped their target price on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. HC Wainwright reduced their price target on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. TD Cowen upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Wedbush cut their price objective on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Denali Therapeutics has a consensus rating of "Buy" and a consensus price target of $33.62.

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.