Strs Ohio Buys New Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• Strs Ohio has acquired a new position in Denali Therapeutics, purchasing 23,800 shares valued at approximately $324,000 during the first quarter.
• Several institutional investors have significantly increased their stakes in Denali Therapeutics, with Caitong International Asset Management raising its position by 277.0%.
• Analysts have mixed ratings for Denali Therapeutics, with Cantor Fitzgerald maintaining an "overweight" rating while Morgan Stanley adjusted its target price from $33.00 to $30.00.

Strs Ohio purchased a new position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,800 shares of the company's stock, valued at approximately $324,000.

A number of other institutional investors have also recently made changes to their positions in DNLI. Caitong International Asset Management Co. Ltd increased its stake in shares of Denali Therapeutics by 277.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock worth $29,000 after buying an additional 1,551 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Denali Therapeutics during the first quarter valued at about $41,000. GF Fund Management CO. LTD. purchased a new stake in shares of Denali Therapeutics during the fourth quarter worth about $62,000. GAMMA Investing LLC grew its stake in shares of Denali Therapeutics by 253.8% in the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock worth $108,000 after purchasing an additional 5,705 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Denali Therapeutics during the 1st quarter valued at about $152,000. Hedge funds and other institutional investors own 92.92% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on DNLI. Cantor Fitzgerald reiterated an "overweight" rating on shares of Denali Therapeutics in a report on Monday, September 8th. TD Cowen raised Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Morgan Stanley reduced their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $33.50.

Denali Therapeutics Stock Performance

DNLI stock opened at $13.05 on Wednesday. The stock's 50 day simple moving average is $14.38 and its 200 day simple moving average is $14.25. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $33.33. The stock has a market capitalization of $1.91 billion, a PE ratio of -4.66 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, topping the consensus estimate of ($0.74) by $0.02. During the same period in the previous year, the firm posted ($0.59) earnings per share. As a group, research analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander O. Schuth sold 2,937 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the transaction, the insider directly owned 242,346 shares of the company's stock, valued at $3,291,058.68. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan J. Watts sold 495,282 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the completion of the sale, the chief executive officer owned 253,071 shares in the company, valued at $3,796,065. This represents a 66.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 501,962 shares of company stock valued at $7,520,799. 12.50% of the stock is owned by insiders.

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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