Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by Baillie Gifford & Co.

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. cut its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,090,040 shares of the company's stock after selling 223,891 shares during the period. Baillie Gifford & Co. owned about 8.32% of Denali Therapeutics worth $164,364,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Denali Therapeutics during the fourth quarter valued at about $532,000. SG Americas Securities LLC increased its holdings in Denali Therapeutics by 339.6% in the first quarter. SG Americas Securities LLC now owns 48,365 shares of the company's stock valued at $658,000 after buying an additional 37,362 shares during the last quarter. Vanguard Group Inc. raised its stake in Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock valued at $244,993,000 after buying an additional 843,996 shares in the last quarter. Norges Bank bought a new position in Denali Therapeutics during the 4th quarter worth approximately $21,717,000. Finally, Teacher Retirement System of Texas grew its position in shares of Denali Therapeutics by 18.6% in the 4th quarter. Teacher Retirement System of Texas now owns 38,178 shares of the company's stock worth $778,000 after acquiring an additional 5,987 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $14.31 on Friday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -5.36 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. The firm's 50 day moving average price is $14.22 and its two-hundred day moving average price is $16.21.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period in the previous year, the firm posted ($0.68) EPS. As a group, equities analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 495,282 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the transaction, the chief executive officer directly owned 253,071 shares in the company, valued at $3,796,065. The trade was a 66.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America dropped their price target on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Cantor Fitzgerald raised shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a report on Thursday, April 10th. Wedbush cut their target price on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. William Blair raised shares of Denali Therapeutics to a "strong-buy" rating in a report on Thursday, April 24th. Finally, HC Wainwright cut their target price on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $33.71.

Denali Therapeutics 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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