Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lowered its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 9.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 68,643 shares of the company’s stock after selling 7,192 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Denali Therapeutics were worth $2,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DNLI. GAMMA Investing LLC lifted its position in Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares during the period. CWM LLC lifted its position in Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. Quest Partners LLC purchased a new position in shares of Denali Therapeutics during the 3rd quarter valued at about $73,000. Assetmark Inc. raised its stake in shares of Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after buying an additional 580 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Denali Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after buying an additional 920 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Thursday, November 7th. Citigroup lifted their price objective on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wedbush reduced their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America lifted their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.90.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares in the company, valued at $6,529,495.83. The trade was a 14.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the transaction, the director now owns 29,096 shares in the company, valued at approximately $844,656.88. This represents a 50.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,578 shares of company stock worth $2,474,440. Corporate insiders own 7.90% of the company’s stock.

Denali Therapeutics Trading Down 0.6 %

NASDAQ:DNLI opened at $25.00 on Friday. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $33.33. The stock has a 50 day moving average of $27.41 and a two-hundred day moving average of $24.43. The firm has a market cap of $3.60 billion, a P/E ratio of -9.06 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the prior year, the firm posted ($0.72) earnings per share. On average, research analysts forecast that Denali Therapeutics Inc. will post -2.69 earnings per share for the current year.

Denali Therapeutics 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.