Vanguard Group Inc. Buys 1,064,972 Shares of Denali Therapeutics Inc. $DNLI

Key Points

• Vanguard Group boosted its stake in Denali Therapeutics by 8.9% in the fourth quarter, buying 1,064,972 additional shares and bringing its total holding to 13,057,890 shares worth about $215.6 million.
• Institutional ownership in DNLI remains very high at 92.92%, with several other firms also increasing or initiating positions during the quarter.
• Denali Therapeutics reported a smaller-than-expected quarterly loss of ($0.69) per share, beating analyst estimates, while Wall Street currently has a Moderate Buy consensus and an average price target of $34.42.

Vanguard Group Inc. increased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,057,890 shares of the company's stock after buying an additional 1,064,972 shares during the period. Vanguard Group Inc. owned 8.90% of Denali Therapeutics worth $215,586,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. NBC Securities Inc. raised its stake in Denali Therapeutics by 1,128.6% in the fourth quarter. NBC Securities Inc. now owns 6,536 shares of the company's stock worth $108,000 after buying an additional 6,004 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in Denali Therapeutics in the fourth quarter worth $1,841,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Denali Therapeutics by 170.1% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 70,830 shares of the company's stock worth $1,169,000 after purchasing an additional 44,607 shares in the last quarter. Bayforest Capital Ltd bought a new position in Denali Therapeutics in the fourth quarter worth $337,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Denali Therapeutics by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,127 shares of the company's stock worth $118,000 after purchasing an additional 1,474 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $19.62 on Friday. Denali Therapeutics Inc. has a fifty-two week low of $12.58 and a fifty-two week high of $23.77. The company has a 50 day simple moving average of $20.19 and a two-hundred day simple moving average of $18.86. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -6.81 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same period in the prior year, the company earned ($0.78) EPS. Analysts expect that Denali Therapeutics Inc. will post -2.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DNLI shares. Wolfe Research started coverage on Denali Therapeutics in a report on Monday, February 23rd. They issued a "peer perform" rating for the company. Leerink Partners decreased their price objective on Denali Therapeutics from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $40.00 price objective on shares of Denali Therapeutics in a report on Monday, March 2nd. HC Wainwright increased their price objective on Denali Therapeutics from $32.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. Finally, Wall Street Zen raised shares of Denali Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.42.

About Denali Therapeutics

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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