Charles Schwab Investment Management Inc. Sells 18,566 Shares of Denali Therapeutics Inc. $DNLI

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Denali Therapeutics by 1.8%, selling 18,566 shares, and now holds approximately 0.70% of the company valued at $13.73 million.
• CEO Ryan J. Watts sold 495,282 shares of Denali Therapeutics for around $7.43 million, resulting in a 66.18% decrease in his stock ownership.
• Denali Therapeutics reported a quarterly loss of ($0.72) EPS, slightly beating analysts' estimates, and is forecasted to post -2.71 EPS for the current year.

Charles Schwab Investment Management Inc. trimmed its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,009,896 shares of the company's stock after selling 18,566 shares during the period. Charles Schwab Investment Management Inc. owned about 0.70% of Denali Therapeutics worth $13,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DNLI. Polar Asset Management Partners Inc. increased its holdings in Denali Therapeutics by 1,240.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company's stock valued at $11,231,000 after purchasing an additional 509,992 shares during the period. Balyasny Asset Management L.P. grew its holdings in Denali Therapeutics by 822.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company's stock worth $8,480,000 after acquiring an additional 370,966 shares during the period. Millennium Management LLC grew its holdings in Denali Therapeutics by 571.8% during the 4th quarter. Millennium Management LLC now owns 404,224 shares of the company's stock worth $8,238,000 after acquiring an additional 344,056 shares during the period. Stempoint Capital LP boosted its position in shares of Denali Therapeutics by 107.2% during the 4th quarter. Stempoint Capital LP now owns 584,328 shares of the company's stock worth $11,909,000 after purchasing an additional 302,278 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Denali Therapeutics by 19.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company's stock worth $37,805,000 after purchasing an additional 295,594 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, insider Carole Ho sold 2,937 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the sale, the insider owned 217,391 shares in the company, valued at $2,952,169.78. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total value of $7,429,230.00. Following the sale, the chief executive officer owned 253,071 shares in the company, valued at approximately $3,796,065. This represents a 66.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,962 shares of company stock worth $7,520,799. Insiders own 12.50% of the company's stock.

Denali Therapeutics Stock Down 0.3%

NASDAQ:DNLI traded down $0.05 on Thursday, hitting $15.55. The stock had a trading volume of 1,123,704 shares, compared to its average volume of 1,421,418. 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 stock has a market cap of $2.27 billion, a P/E ratio of -5.56 and a beta of 1.36. Denali Therapeutics Inc. has a 1 year low of $10.57 and a 1 year high of $33.33. The firm's fifty day simple moving average is $14.39 and its two-hundred day simple moving average is $14.93.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.02. During the same period in the previous year, the company posted ($0.59) earnings per share. Analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

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.