324,829 Shares in Denali Therapeutics Inc. (NASDAQ:DNLI) Acquired by abrdn plc

abrdn plc purchased a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 324,829 shares of the company's stock, valued at approximately $6,971,000. abrdn plc owned 0.23% of Denali Therapeutics at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Denali Therapeutics by 277.9% in the third quarter. SG Americas Securities LLC now owns 35,800 shares of the company's stock worth $739,000 after buying an additional 26,326 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Denali Therapeutics by 37.1% in the third quarter. Harbor Capital Advisors Inc. now owns 52,279 shares of the company's stock worth $1,079,000 after buying an additional 14,155 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Denali Therapeutics by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,679 shares of the company's stock worth $427,000 after buying an additional 2,124 shares during the last quarter. TD Asset Management Inc raised its holdings in Denali Therapeutics by 59.9% in the third quarter. TD Asset Management Inc now owns 135,000 shares of the company's stock worth $2,785,000 after buying an additional 50,578 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in Denali Therapeutics by 49.1% in the third quarter. Assetmark Inc. now owns 2,148 shares of the company's stock worth $44,000 after buying an additional 707 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DNLI shares. UBS Group decreased their target price on shares of Denali Therapeutics from $70.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, April 9th. The Goldman Sachs Group reduced their price target on shares of Denali Therapeutics from $73.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. Wedbush reiterated an "outperform" rating and issued a $31.00 price target on shares of Denali Therapeutics in a research note on Wednesday, February 28th. Finally, HC Wainwright reduced their price target on shares of Denali Therapeutics from $105.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, February 28th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Denali Therapeutics currently has an average rating of "Buy" and a consensus price target of $41.22.

Insider Activity at Denali Therapeutics

In related news, Director Steve E. Krognes sold 2,750 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total transaction of $47,547.50. Following the completion of the sale, the director now directly owns 139,841 shares in the company, valued at $2,417,850.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Denali Therapeutics news, insider Carole Ho sold 2,784 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total value of $48,135.36. Following the completion of the transaction, the insider now directly owns 145,010 shares in the company, valued at $2,507,222.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steve E. Krognes sold 2,750 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $17.29, for a total transaction of $47,547.50. Following the completion of the transaction, the director now owns 139,841 shares of the company's stock, valued at $2,417,850.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,955 shares of company stock worth $2,218,802. 7.90% of the stock is owned by company insiders.

Denali Therapeutics Trading Up 3.1 %

NASDAQ DNLI traded up $0.47 during trading hours on Friday, hitting $15.43. 1,122,313 shares of the company's stock traded hands, compared to its average volume of 1,081,433. The business's fifty day moving average price is $19.00 and its two-hundred day moving average price is $19.04. The firm has a market capitalization of $2.20 billion, a P/E ratio of -14.29 and a beta of 1.33. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $33.31.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.05). Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 13.50%. During the same quarter in the prior year, the business earned ($0.75) EPS. On average, sell-side analysts expect that Denali Therapeutics Inc. will post -2.61 EPS for the current fiscal year.

About Denali Therapeutics

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.