Vanguard Group Inc. Lowers Position in Denali Therapeutics Inc. $DNLI

Key Points

• Vanguard Group Inc. reduced its stake in Denali Therapeutics by 1.8%, holding 11,799,757 shares worth approximately $160.42 million as of the latest quarter.
• Multiple institutional investors have also increased their positions in Denali, with Sterling Capital Management lifting its stake by a notable 589.9%.
• Analysts have mixed price targets for Denali Therapeutics, with range adjustments from $27.00 to $33.00, though the consensus rating is still a "Buy".

Vanguard Group Inc. lessened its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,799,757 shares of the company's stock after selling 221,473 shares during the period. Vanguard Group Inc. owned about 8.12% of Denali Therapeutics worth $160,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DNLI. Polar Asset Management Partners Inc. grew its position in shares of Denali Therapeutics by 1,240.9% in the 4th quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company's stock valued at $11,231,000 after buying an additional 509,992 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Denali Therapeutics by 822.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company's stock valued at $8,480,000 after buying an additional 370,966 shares during the last quarter. Millennium Management LLC grew its position in shares of Denali Therapeutics by 571.8% in the 4th quarter. Millennium Management LLC now owns 404,224 shares of the company's stock valued at $8,238,000 after buying an additional 344,056 shares during the last quarter. Stempoint Capital LP grew its position in shares of Denali Therapeutics by 107.2% in the 4th quarter. Stempoint Capital LP now owns 584,328 shares of the company's stock valued at $11,909,000 after buying an additional 302,278 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Denali Therapeutics by 19.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company's stock valued at $37,805,000 after buying an additional 295,594 shares during the last quarter. Institutional investors own 92.92% of the company's stock.

Insider Buying and Selling

In related news, insider Alexander O. Schuth sold 2,937 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the transaction, the insider directly owned 242,346 shares of the company's stock, valued at approximately $3,291,058.68. This represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan J. Watts sold 495,282 shares of the company's stock in a transaction that occurred 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 directly 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. In the last three months, insiders have sold 501,962 shares of company stock valued at $7,520,799. 12.50% of the stock is owned by company insiders.

Denali Therapeutics Stock Up 1.7%

DNLI stock traded up $0.26 during trading on Friday, reaching $15.49. 2,743,895 shares of the stock were exchanged, compared to its average volume of 1,740,341. The firm's 50 day moving average is $14.31 and its 200 day moving average is $15.02. Denali Therapeutics Inc. has a twelve month low of $10.57 and a twelve month high of $33.33. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.26 billion, a P/E ratio of -5.53 and a beta of 1.36.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same period last year, the company earned ($0.59) EPS. As a group, research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird cut their target price on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wedbush cut their target price on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Bank of America cut their target price on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Morgan Stanley cut their target price on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Denali Therapeutics has an average rating of "Buy" and a consensus price target of $33.62.

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.