SCS Capital Management LLC Takes Position in Denali Therapeutics Inc. $DNLI

Key Points

• SCS Capital Management acquired 197,998 shares of Denali Therapeutics, valued at approximately $5.1 million, establishing a new position representing about 0.12% of the company.
• Institutional investors and hedge funds own 92.92% of DNLI, with Goldman Sachs increasing its holdings by 58.1% and several other firms also adding shares.
• Denali’s shares opened at $24.40, while analysts maintain a “Moderate Buy” consensus and a $35.92 average price target. The company’s latest quarterly loss of $0.68 per share missed estimates, although revenue exceeded expectations.

SCS Capital Management LLC acquired a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 197,998 shares of the company's stock, valued at approximately $5,093,000. SCS Capital Management LLC owned approximately 0.12% of Denali Therapeutics at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DNLI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Denali Therapeutics by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company's stock valued at $1,210,000 after buying an additional 3,432 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Denali Therapeutics by 58.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company's stock worth $22,732,000 after acquiring an additional 614,555 shares in the last quarter. Empowered Funds LLC grew its stake in Denali Therapeutics by 11.0% in the first quarter. Empowered Funds LLC now owns 20,639 shares of the company's stock valued at $281,000 after acquiring an additional 2,052 shares during the period. Woodline Partners LP grew its stake in Denali Therapeutics by 13.5% in the first quarter. Woodline Partners LP now owns 113,517 shares of the company's stock valued at $1,543,000 after acquiring an additional 13,517 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Denali Therapeutics by 1.7% during the second quarter. JPMorgan Chase & Co. now owns 191,613 shares of the company's stock valued at $2,681,000 after acquiring an additional 3,210 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 2,857 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total value of $71,624.99. Following the completion of the sale, the insider owned 281,763 shares in the company, valued at $7,063,798.41. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.70% of the stock is owned by corporate insiders.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $24.40 on Monday. Denali Therapeutics Inc. has a 52 week low of $12.58 and a 52 week high of $27.30. The company has a quick ratio of 8.32, a current ratio of 8.37 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $24.04 and a 200-day moving average price of $21.49. The company has a market cap of $3.90 billion, a PE ratio of -8.59 and a beta of 1.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The company had revenue of $3.60 million during the quarter, compared to the consensus estimate of $2.15 million. During the same quarter last year, the firm posted ($0.72) earnings per share. Equities analysts anticipate that Denali Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Denali Therapeutics from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Denali Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. UBS Group boosted their price target on shares of Denali Therapeutics from $25.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Wedbush restated an "outperform" rating and set a $26.00 price objective on shares of Denali Therapeutics in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. began coverage on shares of Denali Therapeutics in a research note on Monday, July 13th. They issued an "overweight" rating and a $29.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $35.92.

About Denali Therapeutics

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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