Principal Financial Group Inc. Sells 45,637 Shares of Denali Therapeutics Inc. $DNLI

Key Points

• Principal Financial Group trimmed its Denali Therapeutics stake by 3.0% in the first quarter, selling 45,637 shares and leaving it with 1,478,486 shares worth about $28.4 million.
• Denali Therapeutics reported a narrower-than-expected quarterly loss, posting EPS of ($0.69) versus the consensus estimate of ($0.73).
• Analysts remain broadly positive on DNLI, with a Moderate Buy consensus and an average price target of $35.08, while the stock recently traded at $23.29.

Principal Financial Group Inc. reduced its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,478,486 shares of the company's stock after selling 45,637 shares during the period. Principal Financial Group Inc. owned 0.93% of Denali Therapeutics worth $28,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DNLI. Headlands Technologies LLC bought a new position in Denali Therapeutics in the second quarter valued at about $26,000. Johnson Financial Group Inc. bought a new stake in Denali Therapeutics during the 3rd quarter worth about $29,000. State of Wyoming acquired a new position in Denali Therapeutics during the 2nd quarter valued at about $29,000. Fifth Third Bancorp acquired a new position in Denali Therapeutics during the 1st quarter valued at about $55,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Denali Therapeutics in the 4th quarter valued at about $57,000. Institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $23.29 on Monday. The stock has a market cap of $3.70 billion, a PE ratio of -8.09 and a beta of 0.96. The stock has a 50-day moving average of $22.21 and a 200-day moving average of $20.61. 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 Inc. has a one year low of $12.58 and a one year high of $27.30.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the business posted ($0.78) EPS. As a group, sell-side analysts expect that Denali Therapeutics Inc. will post -2.74 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on DNLI. Stifel Nicolaus set a $41.00 price target on shares of Denali Therapeutics in a research report on Monday, June 22nd. The Goldman Sachs Group raised their price objective on shares of Denali Therapeutics from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Morgan Stanley dropped their target price on shares of Denali Therapeutics from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. began coverage on Denali Therapeutics in a research note on Monday, July 13th. They issued an "overweight" rating and a $29.00 price target on the stock. Finally, BTIG Research restated a "buy" rating and issued a $39.00 price target on shares of Denali Therapeutics in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.08.

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.

Want to see what other hedge funds are holding DNLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.