The Manufacturers Life Insurance Company Lowers Stock Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• The Manufacturers Life Insurance Company reduced its Denali Therapeutics stake by 31.9% in the first quarter, selling 58,796 shares and retaining 125,442 shares worth approximately $2.4 million. Institutional investors collectively own 92.92% of DNLI.
• Analysts remain broadly optimistic, with 13 Buy ratings, two Holds and one Sell; Denali has a consensus “Moderate Buy” rating and an average price target of $35.92, above its recent $24.83 share price.
• Denali reported a quarterly loss of $0.68 per share, missing the $0.51 consensus estimate, although revenue of $3.60 million exceeded expectations. The clinical-stage biotech is developing treatments for neurodegenerative diseases including Parkinson’s and Alzheimer’s.

The Manufacturers Life Insurance Company cut its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,442 shares of the company's stock after selling 58,796 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Denali Therapeutics worth $2,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Denali Therapeutics in the 2nd quarter valued at $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Denali Therapeutics in the 3rd quarter worth $29,000. State of Wyoming acquired a new stake in shares of Denali Therapeutics in the 2nd quarter worth $29,000. Fifth Third Bancorp acquired a new stake in shares of Denali Therapeutics in the 1st quarter worth $55,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Denali Therapeutics in the fourth quarter valued at about $57,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DNLI. Sanford C. Bernstein reiterated a "hold" rating on shares of Denali Therapeutics in a research note on Monday, June 22nd. JPMorgan Chase & Co. started coverage on shares of Denali Therapeutics in a research report on Monday, July 13th. They issued an "overweight" rating and a $29.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of Denali Therapeutics in a report on Monday, July 13th. Morgan Stanley boosted 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. Finally, Robert W. Baird set a $34.00 target price on Denali Therapeutics in a research note on Friday. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.92.

Denali Therapeutics Stock Up 0.4%

Shares of NASDAQ DNLI opened at $24.83 on Friday. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -8.74 and a beta of 1.01. Denali Therapeutics Inc. has a 52 week low of $12.58 and a 52 week high of $27.30. The firm has a 50-day moving average price of $23.54 and a 200 day moving average price of $21.28. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results 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 business had revenue of $3.60 million for the quarter, compared to the consensus estimate of $2.15 million. During the same period in the previous year, the business posted ($0.72) earnings per share. Equities research analysts anticipate that Denali Therapeutics Inc. will post -2.73 EPS for the current fiscal year.

Denali Therapeutics Company 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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