Dimensional Fund Advisors LP Boosts Stock Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• Dimensional Fund Advisors increased its Denali Therapeutics stake by 13.4% in the first quarter, purchasing 317,872 additional shares to hold 2.69 million shares worth approximately $51.7 million.
• Institutional investors own 92.92% of Denali’s stock, with Vanguard, Baillie Gifford, T. Rowe Price, Temasek and State Street also expanding their positions.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $35.17 versus the stock’s reported $23.02 price; Denali also exceeded quarterly EPS expectations while continuing to develop therapies for neurodegenerative diseases.

Dimensional Fund Advisors LP lifted its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,692,175 shares of the company's stock after purchasing an additional 317,872 shares during the period. Dimensional Fund Advisors LP owned about 1.70% of Denali Therapeutics worth $51,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Denali Therapeutics by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company's stock valued at $215,586,000 after buying an additional 1,064,972 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Denali Therapeutics by 6.2% in the fourth quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company's stock worth $203,253,000 after acquiring an additional 719,304 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Denali Therapeutics by 28.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company's stock worth $119,766,000 after acquiring an additional 1,615,565 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in shares of Denali Therapeutics by 30.9% during the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company's stock worth $115,784,000 after acquiring an additional 1,657,142 shares in the last quarter. Finally, State Street Corp grew its position in shares of Denali Therapeutics by 14.6% during the 4th quarter. State Street Corp now owns 6,263,371 shares of the company's stock valued at $103,408,000 after acquiring an additional 799,110 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

DNLI opened at $23.02 on Monday. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -7.99 and a beta of 1.01. The company's 50 day simple moving average is $23.12 and its two-hundred day simple moving average is $21.09. Denali Therapeutics Inc. has a 1-year low of $12.58 and a 1-year high of $27.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.73) by $0.04. During the same period in the previous year, the business earned ($0.78) earnings per share. Analysts expect that Denali Therapeutics Inc. will post -2.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Denali Therapeutics from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. UBS Group reiterated a "buy" rating on shares of Denali Therapeutics in a research report on Tuesday, June 16th. Wall Street Zen raised Denali Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Denali Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, Robert W. Baird upped their target price on Denali Therapeutics from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.17.

Denali Therapeutics Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company's research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali's approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali's lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson's disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer's patients.

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