Baillie Gifford & Co. Lowers Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Key Points

• Baillie Gifford & Co. reduced its stake in Denali Therapeutics by 1.8% in Q1, now holding approximately 12.09 million shares worth $164.36 million.
• Denali Therapeutics reported a loss of $0.78 per share in its latest quarterly earnings, missing estimates by $0.07.
• Insider activity includes CEO Ryan J. Watts selling 495,282 shares at an average price of $15.00, representing a significant reduction of his holdings.

Baillie Gifford & Co. decreased its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,090,040 shares of the company's stock after selling 223,891 shares during the quarter. Baillie Gifford & Co. owned approximately 8.32% of Denali Therapeutics worth $164,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC grew its position in shares of Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after buying an additional 1,516 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Denali Therapeutics during the 4th quarter worth $62,000. Point72 Hong Kong Ltd bought a new stake in Denali Therapeutics during the fourth quarter valued at about $65,000. GAMMA Investing LLC grew its stake in Denali Therapeutics by 253.8% in the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock valued at $108,000 after purchasing an additional 5,705 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Denali Therapeutics by 2,519.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,288 shares of the company's stock valued at $230,000 after buying an additional 10,857 shares during the last quarter. Institutional investors own 92.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DNLI shares. Robert W. Baird lowered their price objective on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Monday. Wedbush decreased their price objective on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. William Blair raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald raised shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $33.71.

Insider Buying and Selling

In related news, CEO Ryan J. Watts sold 495,282 shares of the firm's stock in a transaction dated 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 trade represents a 66.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.50% of the stock is currently owned by company insiders.

Denali Therapeutics Trading Up 0.4%

Shares of DNLI stock traded up $0.06 during mid-day trading on Tuesday, reaching $13.69. The stock had a trading volume of 519,102 shares, compared to its average volume of 1,358,062. The business's fifty day moving average is $14.21 and its 200-day moving average is $16.04. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -5.13 and a beta of 1.33. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period in the previous year, the business earned ($0.68) earnings per share. On average, analysts forecast 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.