Denali Therapeutics Inc. $DNLI Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM increased its stake in Denali Therapeutics by 88.9%, acquiring an additional 3,184,042 shares, bringing its total ownership to approximately 6.77 million shares, worth around $91.99 million.
• Denali Therapeutics reported a quarterly loss of ($0.72) earnings per share, surpassing analysts' expectations of ($0.74) EPS, indicating a slight improvement year-on-year.
• Major institutional investors now own 92.92% of Denali Therapeutics' stock, highlighting strong interest and confidence in the company from large financial entities.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 88.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,766,916 shares of the company's stock after buying an additional 3,184,042 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 4.66% of Denali Therapeutics worth $91,996,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of Denali Therapeutics by 15.9% during the first quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock valued at $155,113,000 after buying an additional 1,561,647 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Denali Therapeutics by 42.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock valued at $59,373,000 after buying an additional 1,308,619 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Denali Therapeutics by 58.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company's stock valued at $22,732,000 after buying an additional 614,555 shares during the period. Millennium Management LLC boosted its position in shares of Denali Therapeutics by 269.4% during the first quarter. Millennium Management LLC now owns 1,493,068 shares of the company's stock valued at $20,298,000 after buying an additional 1,088,844 shares during the period. Finally, Candriam S.C.A. boosted its position in shares of Denali Therapeutics by 3.0% during the first quarter. Candriam S.C.A. now owns 858,162 shares of the company's stock valued at $11,667,000 after buying an additional 25,185 shares during the period. Hedge funds and other institutional investors own 92.92% of the company's stock.

Insider Buying and Selling

In other news, insider Carole Ho sold 2,937 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the completion of the sale, the insider owned 217,391 shares of the company's stock, valued at $2,952,169.78. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan J. Watts sold 495,282 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total value of $7,429,230.00. Following the transaction, the chief executive officer owned 253,071 shares in the company, valued at approximately $3,796,065. This trade represents a 66.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,962 shares of company stock valued at $7,520,799 over the last 90 days. Corporate insiders own 12.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DNLI shares. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Morgan Stanley lowered their price target on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Denali Therapeutics in a report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $33.50.

Denali Therapeutics Stock Up 0.9%

NASDAQ:DNLI traded up $0.12 during trading hours on Thursday, reaching $13.18. The company's stock had a trading volume of 2,119,725 shares, compared to its average volume of 2,067,321. The company has a market capitalization of $1.93 billion, a P/E ratio of -4.71 and a beta of 1.23. Denali Therapeutics Inc. has a 12 month low of $10.57 and a 12 month high of $33.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. The stock has a 50 day moving average price of $14.47 and a two-hundred day moving average price of $14.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.72) EPS for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same quarter in the prior year, the company posted ($0.59) earnings per share. Equities analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal 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.