SCS Capital Management LLC Acquires New Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• SCS Capital Management LLC has acquired a new stake in Denali Therapeutics Inc. (DNLI), purchasing 197,998 shares valued at approximately $2.69 million, representing 0.14% ownership.
• Denali Therapeutics' stock is currently down 0.9%, with a market capitalization of $2.25 billion and earnings per share of -$0.72, slightly beating analysts' estimates.
• Insider activity includes a significant transaction by CEO Ryan J. Watts, who sold 495,282 shares, reducing their ownership by 66.18%.

SCS Capital Management LLC acquired a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 197,998 shares of the company's stock, valued at approximately $2,692,000. SCS Capital Management LLC owned 0.14% of Denali Therapeutics as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of DNLI. Caitong International Asset Management Co. Ltd grew its position in shares of Denali Therapeutics by 277.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock valued at $29,000 after purchasing an additional 1,551 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Denali Therapeutics in the 1st quarter valued at approximately $41,000. GF Fund Management CO. LTD. acquired a new position in shares of Denali Therapeutics in the 4th quarter valued at approximately $62,000. Point72 Hong Kong Ltd acquired a new position in shares of Denali Therapeutics in the 4th quarter valued at approximately $65,000. Finally, GAMMA Investing LLC grew its position in shares of Denali Therapeutics by 253.8% in the 1st quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock valued at $108,000 after purchasing an additional 5,705 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Stock Down 0.9%

DNLI opened at $15.36 on Wednesday. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The stock's fifty day simple moving average is $14.61 and its 200 day simple moving average is $14.52. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.25 billion, a PE ratio of -5.49 and a beta of 1.23.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.02. During the same period in the prior year, the firm posted ($0.59) earnings per share. As a group, research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insider Activity at Denali Therapeutics

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

Analyst Upgrades and Downgrades

DNLI has been the subject of several research analyst reports. Bank of America decreased their price objective on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Denali Therapeutics in a research note on Monday. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Morgan Stanley dropped their price objective on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $33.50.

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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