Man Group plc Buys Shares of 139,065 Denali Therapeutics Inc. $DNLI

Key Points

• Man Group plc acquired 139,065 Denali Therapeutics shares worth approximately $3.6 million in the second quarter, while institutional investors collectively held 92.92% of the company.
• Denali reported a quarterly loss of $0.68 per share, missing estimates of $0.51, despite revenue of $3.60 million exceeding expectations of $2.15 million.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $35.85 versus the stock’s $23.76 opening price.

Man Group plc acquired a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 139,065 shares of the company's stock, valued at approximately $3,577,000. Man Group plc owned approximately 0.09% of Denali Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DNLI. Bank of America Corp DE boosted its stake in shares of Denali Therapeutics by 21.7% during the first quarter. Bank of America Corp DE now owns 1,134,183 shares of the company's stock valued at $21,776,000 after purchasing an additional 202,039 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Denali Therapeutics in the 2nd quarter valued at approximately $3,731,000. E. Ohman J or Asset Management AB bought a new position in Denali Therapeutics in the 2nd quarter valued at approximately $4,115,000. Sei Investments Co. acquired a new stake in Denali Therapeutics during the 1st quarter worth approximately $1,003,000. Finally, UBS Group AG boosted its position in Denali Therapeutics by 19.5% during the 4th quarter. UBS Group AG now owns 2,404,704 shares of the company's stock worth $39,702,000 after buying an additional 392,351 shares during the period. Institutional investors and hedge funds own 92.92% of the company's stock.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,857 shares of Denali Therapeutics stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total value of $71,624.99. Following the sale, the insider owned 281,763 shares of the company's stock, valued at approximately $7,063,798.41. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.70% of the company's stock.

Denali Therapeutics Trading Down 1.0%

NASDAQ DNLI opened at $23.76 on Tuesday. The company has a quick ratio of 8.32, a current ratio of 8.37 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 52 week low of $12.58 and a 52 week high of $27.30. The business has a 50 day moving average price of $24.61 and a 200-day moving average price of $21.75. The company has a market cap of $3.80 billion, a price-to-earnings ratio of -8.37 and a beta of 1.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.17). The firm had revenue of $3.60 million for the quarter, compared to analysts' expectations of $2.15 million. During the same period in the prior year, the company earned ($0.72) EPS. As a group, equities analysts expect that Denali Therapeutics Inc. will post -2.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on DNLI. Weiss Ratings reiterated a "sell (d-)" rating on shares of Denali Therapeutics in a research report on Friday, July 17th. Wall Street Zen upgraded Denali Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. assumed coverage on shares of Denali Therapeutics in a research report on Monday, July 13th. They set an "overweight" rating and a $29.00 target price for the company. Wedbush restated an "outperform" rating and set a $26.00 price target on shares of Denali Therapeutics in a report on Monday, July 13th. Finally, Morgan Stanley boosted their price target on shares of Denali Therapeutics from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.85.

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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