Denali Therapeutics Inc. $DNLI Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Denali Therapeutics Inc. by 60.8%, owning approximately 0.34% of the company worth nearly $6.9 million.
• Denali Therapeutics has received mixed reviews from analysts, with a consensus rating of "Buy" and a price target average of $33.50.
• Insider sales have occurred recently, with two insiders selling shares at an average price of $13.58, indicating a slight decline in their positions.

TD Asset Management Inc lifted its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 60.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 496,290 shares of the company's stock after acquiring an additional 187,710 shares during the quarter. TD Asset Management Inc owned about 0.34% of Denali Therapeutics worth $6,943,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Denali Therapeutics by 277.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock valued at $29,000 after acquiring an additional 1,551 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Denali Therapeutics during the first quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. grew its position in Denali Therapeutics by 15.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,612 shares of the company's stock worth $79,000 after buying an additional 753 shares during the last quarter. GAMMA Investing LLC grew its position in Denali Therapeutics by 253.8% in the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock worth $108,000 after buying an additional 5,705 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in Denali Therapeutics in the first quarter worth approximately $152,000. Institutional investors and hedge funds own 92.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Denali Therapeutics in a research report on Wednesday, October 8th. TD Cowen upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Morgan Stanley decreased their price target 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. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Denali Therapeutics in a research report on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $33.50.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,937 shares of Denali Therapeutics stock in a transaction 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 completion of the sale, the insider owned 242,346 shares of the company's stock, valued at $3,291,058.68. This trade represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carole Ho sold 2,937 shares of Denali Therapeutics stock in a transaction 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 sale, the insider directly owned 217,391 shares of the company's stock, valued at $2,952,169.78. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,680 shares of company stock valued at $91,569 in the last three months. Company insiders own 12.50% of the company's stock.

Denali Therapeutics Trading Down 0.4%

NASDAQ DNLI opened at $16.66 on Monday. Denali Therapeutics Inc. has a twelve month low of $10.57 and a twelve month high of $33.33. 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 $2.44 billion, a price-to-earnings ratio of -5.95 and a beta of 1.30. The firm's 50 day moving average price is $14.78 and its two-hundred day moving average price is $14.34.

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

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.

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