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Manufacturers’ Life Insurance Company cut its stock position in Denali Therapeutics (NASDAQ:DNLI – Get Rating) by 8.3% in the third quarter, according to its latest 13F filing with the SEC. The fund owned 110,257 shares of the company after selling 10,030 of his shares during the quarter. Manufacturers Life Insurance Company owned approximately 0.09% of Denali Therapeutics, valued at $3,285,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares in the company. JPMorgan Chase & Co. increased his stake in Denali Therapeutics by 17.1% in the first quarter. JPMorgan Chase & Co. now owns 97,372 shares of the company worth $3,133,000 after he purchased an additional 14,227 shares during this period. MetLife Investment Management LLC increased his stake in Denali Therapeutics by 55.6% in the first quarter. MetLife Investment Management LLC now owns 50,392 shares of the company stock valued at $1,621,000 after purchasing an additional 18,003 shares during this period. Rhumbline Advisers raised his Denali Therapeutics stake by 0.5% in the first quarter. After purchasing an additional 496 shares during this period, Rhumbline Advisers now owns 97,145 shares of the company stock valued at $3,125,000. BlackRock Inc. increased his Denali Therapeutics stake by 0.9% in the first quarter. BlackRock Inc. now owns 8,185,740 shares worth $263,336,000 after purchasing an additional 74,918 shares during this period. Finally, Dimensional Fund Advisors LP increased Denali Therapeutics shares by 13.7% in the first quarter. Dimensional Fund Advisors LP now owns 878,224 shares worth $28,253,000 after purchasing an additional 106,027 shares during this period. 67.26% of the shares are owned by hedge funds and other institutional investors.
Price performance of Denali Therapeutics
Denali Therapeutics shares opened Thursday at $30.88. His 50-day moving average for this business is $29.33 and his 200-day moving average is $30.66. Denali Therapeutics Inc. has a 12-month low of $20.24 and a 12-month high of $39.43. The stock has a market cap of $4.19 billion, a price/earnings ratio of -12.50 and a beta of 1.48.
Denali Therapeutics (NASDAQ:DNLI – Get Rating) last reported quarterly results on Thursday, November 3rd. The company reported his earnings per share (EPS) for the quarter ($0.84), but he missed analyst consensus expectations ($0.83) by $0.01. The company’s revenue for the quarter was $3.56 million, compared with analyst estimates of $10.06 million. Denali Therapeutics had a net profit margin of 273.34% and a return on equity of 33.85%. An equity research analyst expects Denali Therapeutics Inc.’s earnings per share to be -2.61 for the current year.
Insider trading at Denali Therapeutics
In another Denali Therapeutics news, director Steve E. Krognes sold 2,970 shares in a transaction on Thursday, January 5th. The shares sold at an average price of $28.44, giving him a total of $84,466.80. After the sale, the directors now own 146,498 shares of the Company stock valued at approximately $4,166,403.12. The transaction was disclosed in filings with the Securities and Exchange Commission and is available on the SEC’s website. In other news, director Steve E. Clogness sold 2,970 shares of the company in a transaction on Thursday, January 5th. The shares sold for an average of $28.44, and the total trading value he had was $84,466.80. After the sale, the directors now own 146,498 shares of the Company stock valued at approximately $4,166,403.12. The sale was disclosed in filings with the Securities and Exchange Commission available at this hyperlink. Also, his insider, Alexander O. Schuth, sold 10,000 shares of the company’s stock in a transaction on Tuesday, Jan. 17. The shares were sold at an average price of $29.53 for a total of $295,300.00. After the sale, the insider now directly owns his 497,173 shares in the company, valued at approximately $14,681,518.69. Please see here for the disclosure of this sale. The insider said last quarter he sold 43,822 shares of company stock worth $1,300,576. A corporate insider owns his 12.70% of the company’s shares.
Analyst sets new price target
DNLI has been the subject of several research analyst reports. Cowen began covering her Denali Therapeutics in her research report on Monday, Dec. 5. They set an “excellent” rating for the company. Morgan Stanley raised its price target on Denali Therapeutics stock from his $60.00 to $65.00, giving it an “overweight” rating in a report on Wednesday, Jan. 25. Cowen began her Denali Therapeutics coverage in a research note on Monday, Dec. 5. They gave the stock an “outperform” rating. SVB Securities began covering Denali Therapeutics in a research note on Monday. They set an “outperform” rating and a price target of $50.00. Finally, SVB Leerink repeated his “outperform” rating, and in Monday’s research report he set a price target of $50.00 on Denali Therapeutics shares. Ten investment analysts rated this stock with a Buy rating. Based on MarketBeat data, the company has an average Buy rating and an average target price of $51.50.
About Denali Therapeutics
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Denali Therapeutics, Inc. is a biopharmaceutical company engaged in the development and commercialization of a portfolio of neurodegenerative disease product candidates. Its product pipeline includes LRRK2, RIPK1, TREM2, and Tau. The company was founded by Ryan J. Watts, Marc Tessier-Lavigne, and Alexander Schuth on October 14, 2013 and is headquartered in San Francisco, California.
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Want to know which other hedge funds hold DNLI? Visit HoldingsChannel.com to get the latest Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) 13F filings and insider trading.
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to contact@marketbeat.com.
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