The Manufacturers Life Insurance Company Buys Shares of 117,348 Denali Therapeutics Inc. $DNLI

Key Points

• The Manufacturers Life Insurance Company bought 117,348 Denali Therapeutics shares during the second quarter, valued at approximately $3.0 million. Institutional investors collectively own 92.92% of DNLI.
• Denali shares opened at $23.26, down 2.1%, after the company reported a quarterly loss of $0.68 per share—worse than analysts’ expected loss of $0.51—despite revenue of $3.6 million exceeding estimates.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $35.85 versus the reported share price; targets range from $26 to $39.

The Manufacturers Life Insurance Company purchased a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 117,348 shares of the company's stock, valued at approximately $3,018,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Denali Therapeutics at the end of the most recent quarter.

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

Denali Therapeutics Trading Down 2.1%

NASDAQ:DNLI opened at $23.26 on Wednesday. Denali Therapeutics Inc. has a 12 month low of $12.58 and a 12 month high of $27.30. The company has a current ratio of 8.37, a quick ratio of 8.32 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -8.19 and a beta of 1.01. The firm has a fifty day simple moving average of $24.58 and a two-hundred day simple moving average of $21.78.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.17). The firm had revenue of $3.60 million for the quarter, compared to the consensus estimate of $2.15 million. During the same quarter in the previous year, the business earned ($0.72) earnings per share. Analysts expect that Denali Therapeutics Inc. will post -2.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,857 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $25.07, for a total value of $71,624.99. Following the transaction, the insider owned 281,763 shares in the company, valued at approximately $7,063,798.41. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DNLI shares. B. Riley Financial lifted their price target on shares of Denali Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Robert W. Baird set a $34.00 price objective on Denali Therapeutics in a report on Friday, August 7th. BTIG Research reaffirmed a "buy" rating and set a $39.00 target price on shares of Denali Therapeutics in a report on Monday, May 11th. Wedbush reiterated an "outperform" rating and issued a $26.00 price target on shares of Denali Therapeutics in a research report on Monday, July 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Denali Therapeutics in a research note on Friday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.85.

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.

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