Wellington Management Group LLP Increases Stake in Denali Therapeutics Inc. $DNLI

Key Points

• Wellington Management Group LLP increased its ownership in Denali Therapeutics Inc. by 15.9%, acquiring a total of 11,409,598 shares valued at approximately $155 million.
• Denali Therapeutics recently reported an earnings per share result of ($0.72), beating the consensus estimate and showing a decline from last year's EPS of ($0.59).
• According to analyst ratings, Denali Therapeutics maintains a consensus Buy rating, with a price target range suggesting potential for future gains despite recent target reductions from several firms.

Wellington Management Group LLP raised its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,409,598 shares of the company's stock after purchasing an additional 1,561,647 shares during the period. Wellington Management Group LLP owned 7.85% of Denali Therapeutics worth $155,113,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DNLI. Polar Asset Management Partners Inc. raised its stake in Denali Therapeutics by 1,240.9% in the 4th 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 last quarter. Balyasny Asset Management L.P. raised its position in shares of Denali Therapeutics by 822.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company's stock valued at $8,480,000 after buying an additional 370,966 shares during the last quarter. Aberdeen Group plc lifted its stake 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 buying an additional 357,533 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Denali Therapeutics by 571.8% in the fourth quarter. Millennium Management LLC now owns 404,224 shares of the company's stock worth $8,238,000 after buying an additional 344,056 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Denali Therapeutics during the first quarter worth about $4,390,000. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Trading Down 0.1%

Shares of DNLI traded down $0.02 during trading on Tuesday, reaching $15.55. 2,024,184 shares of the company traded hands, compared to its average volume of 1,817,729. The stock has a 50-day simple moving average of $14.36 and a 200-day simple moving average of $14.93. The stock has a market cap of $2.27 billion, a PE ratio of -5.55 and a beta of 1.36. Denali Therapeutics Inc. has a twelve month low of $10.57 and a twelve month 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.

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 analysts' consensus estimates of ($0.74) by $0.02. During the same quarter in the previous year, the firm posted ($0.59) EPS. On average, analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 495,282 shares of Denali Therapeutics 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 completion of the sale, the chief executive officer directly owned 253,071 shares of the company's stock, valued at approximately $3,796,065. The trade was a 66.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander O. Schuth sold 2,937 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value 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 represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 501,962 shares of company stock worth $7,520,799 over the last ninety days. Company insiders own 12.50% of the company's stock.

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.