Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in Denali Therapeutics Inc. by 16.1% during the first quarter, now owning 308,580 shares valued at approximately $4.2 million.
• Several institutional investors, including Vanguard Group and Dimensional Fund Advisors, also boosted their stakes in Denali Therapeutics, showing strong interest with over 92% of the stock held by institutions.
• Denali Therapeutics reported a miss on earnings per share, with results of ($0.78) compared to the estimate of ($0.71), amid analyst ratings suggesting an average target price of $33.71 for the stock.

TD Asset Management Inc grew its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 16.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,580 shares of the company's stock after buying an additional 42,828 shares during the period. TD Asset Management Inc owned 0.21% of Denali Therapeutics worth $4,195,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DNLI. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Denali Therapeutics by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 40,275 shares of the company's stock valued at $548,000 after acquiring an additional 1,058 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Denali Therapeutics in the 1st quarter valued at $254,000. Y Intercept Hong Kong Ltd boosted its stake in Denali Therapeutics by 52.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 54,813 shares of the company's stock worth $745,000 after purchasing an additional 18,807 shares during the period. Victory Capital Management Inc. grew its stake in shares of Denali Therapeutics by 8.1% in the 1st quarter. Victory Capital Management Inc. now owns 41,627 shares of the company's stock valued at $566,000 after purchasing an additional 3,119 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Denali Therapeutics by 7.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 64,210 shares of the company's stock valued at $935,000 after buying an additional 4,410 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were 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 of the company's stock, valued at approximately $3,796,065. This represents a 66.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. William Blair raised shares of Denali Therapeutics to a "strong-buy" rating in a report on Thursday, April 24th. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. HC Wainwright reduced their price target on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Bank of America dropped their price objective on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, Robert W. Baird decreased their target price on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $33.85.

Denali Therapeutics Stock Down 0.2%

Shares of DNLI traded down $0.03 during mid-day trading on Wednesday, hitting $14.26. The company had a trading volume of 1,747,736 shares, compared to its average volume of 1,388,985. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The business's 50-day simple moving average is $14.25 and its 200-day simple moving average is $15.79. The stock has a market cap of $2.07 billion, a PE ratio of -5.31 and a beta of 1.36.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.07). During the same quarter in the previous year, the business posted ($0.68) earnings per share. On average, sell-side analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

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.