Price T Rowe Associates Inc. MD Purchases 1,308,619 Shares of Denali Therapeutics Inc. $DNLI

Key Points

• Price T Rowe Associates Inc. MD has increased its stake in Denali Therapeutics Inc. by 42.8%, now owning over 4.36 million shares valued at approximately $59.37 million.
• Denali Therapeutics reported earnings of ($0.72) per share for the last quarter, slightly beating analysts' expectations.
• Hedge funds collectively hold 92.92% of Denali Therapeutics stock, indicating strong institutional interest in the company.

Price T Rowe Associates Inc. MD boosted its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 42.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,367,234 shares of the company's stock after purchasing an additional 1,308,619 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.01% of Denali Therapeutics worth $59,373,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of DNLI. Wellington Management Group LLP grew its holdings in Denali Therapeutics by 15.9% in the first quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock worth $155,113,000 after purchasing an additional 1,561,647 shares during the period. Polar Asset Management Partners Inc. grew its position 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 period. Balyasny Asset Management L.P. grew its position in Denali Therapeutics by 822.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company's stock valued at $8,480,000 after purchasing an additional 370,966 shares during the period. Aberdeen Group plc raised its holdings in Denali Therapeutics by 88.9% during 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 during the last quarter. Finally, Millennium Management LLC raised its holdings in Denali Therapeutics by 571.8% during 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 during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Stock Down 2.4%

DNLI traded down $0.38 during mid-day trading on Monday, reaching $15.27. 1,886,628 shares of the stock were exchanged, compared to its average volume of 1,791,339. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. The stock has a market capitalization of $2.23 billion, a PE ratio of -5.45 and a beta of 1.23. The company has a 50 day moving average price of $14.48 and a two-hundred day moving average price of $14.73. 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 announced its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.02. During the same period in the previous year, the business earned ($0.59) EPS. As a group, research analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Analyst Upgrades and Downgrades

DNLI has been the topic of several research reports. TD Cowen upgraded shares of Denali Therapeutics to a "strong-buy" rating in a report on Monday, July 28th. Robert W. Baird lowered their price objective on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Bank of America lowered their price objective on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Wedbush lowered their price objective 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. Finally, HC Wainwright lowered their price objective 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. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $33.62.

Insider Activity

In other news, insider Carole Ho sold 2,937 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the sale, the insider directly owned 217,391 shares of the company's stock, valued at $2,952,169.78. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan J. Watts sold 495,282 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total value of $7,429,230.00. Following the sale, the chief executive officer directly owned 253,071 shares of the company's stock, valued at approximately $3,796,065. This represents a 66.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 501,962 shares of company stock valued at $7,520,799 in the last ninety days. 12.50% of the stock is currently owned by insiders.

Denali Therapeutics Company 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.