Candriam S.C.A. Raises Stock Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• Candriam S.C.A. increased its holdings in Denali Therapeutics Inc. by 3.0% in the 1st quarter, now owning 858,162 shares valued at approximately $11.67 million.
• Denali Therapeutics stock rose 5.0% recently, with a market capitalization of $2.23 billion and a P/E ratio of -5.44.
• Institutional investors own 92.92% of Denali Therapeutics' stock, indicating significant backing from the investment community.

Candriam S.C.A. increased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 858,162 shares of the company's stock after purchasing an additional 25,185 shares during the period. Candriam S.C.A. owned approximately 0.59% of Denali Therapeutics worth $11,667,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Groupama Asset Managment grew its position in Denali Therapeutics by 31.1% during the first quarter. Groupama Asset Managment now owns 144,488 shares of the company's stock valued at $2,136,000 after acquiring an additional 34,281 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Denali Therapeutics in the first quarter worth approximately $41,000. Hsbc Holdings PLC grew its holdings in shares of Denali Therapeutics by 73.7% in the first quarter. Hsbc Holdings PLC now owns 58,003 shares of the company's stock worth $779,000 after purchasing an additional 24,613 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Denali Therapeutics by 15.9% in the first quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock worth $155,113,000 after purchasing an additional 1,561,647 shares during the last quarter. Finally, Aberdeen Group plc grew its holdings in shares of Denali Therapeutics by 88.9% in the first quarter. Aberdeen Group plc now owns 759,815 shares of the company's stock worth $10,330,000 after purchasing an additional 357,533 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on DNLI shares. HC Wainwright dropped their price target on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Robert W. Baird dropped their price target on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Wedbush lowered their price objective on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, TD Cowen raised Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $33.62.

Denali Therapeutics Stock Down 0.2%

Shares of NASDAQ:DNLI traded down $0.03 on Wednesday, hitting $15.53. 561,770 shares of the company traded hands, compared to its average volume of 1,418,978. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33. The company has a quick ratio of 10.27, a current ratio of 10.27 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $14.36 and a 200-day simple moving average of $14.93. The company has a market cap of $2.27 billion, a PE ratio of -5.57 and a beta of 1.36.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.02. During the same period in the prior year, the company earned ($0.59) EPS. As a group, research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Ryan J. Watts sold 495,282 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 253,071 shares of the company's stock, valued at $3,796,065. This represents a 66.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carole Ho sold 2,937 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the sale, the insider directly owned 217,391 shares in the company, valued at $2,952,169.78. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,962 shares of company stock worth $7,520,799. 12.50% of the stock is owned by corporate insiders.

Denali Therapeutics Company Profile

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.