Principal Financial Group Inc. Acquires 198,207 Shares of Denali Therapeutics Inc. $DNLI

Principal Financial Group Inc. grew its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 18.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,271,190 shares of the company’s stock after purchasing an additional 198,207 shares during the period. Principal Financial Group Inc.’s holdings in Denali Therapeutics were worth $18,458,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Denali Therapeutics during the 2nd quarter worth about $26,000. State of Wyoming purchased a new stake in Denali Therapeutics in the 2nd quarter worth about $29,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Denali Therapeutics by 15.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,612 shares of the company’s stock worth $79,000 after purchasing an additional 753 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Denali Therapeutics by 120.1% during the second quarter. PNC Financial Services Group Inc. now owns 8,236 shares of the company’s stock valued at $115,000 after buying an additional 4,494 shares during the period. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Denali Therapeutics by 7.4% during the second quarter. Ameritas Investment Partners Inc. now owns 13,522 shares of the company’s stock valued at $189,000 after buying an additional 930 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Insider Buying and Selling at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 17,218 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the sale, the insider owned 282,828 shares of the company’s stock, valued at $4,666,662. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan J. Watts sold 35,198 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $580,767.00. Following the sale, the chief executive officer directly owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. The trade was a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.50% of the company’s stock.

Denali Therapeutics Trading Up 5.3%

NASDAQ:DNLI opened at $21.08 on Monday. The firm has a 50-day simple moving average of $18.47 and a 200-day simple moving average of $16.46. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $23.77. The firm has a market cap of $3.09 billion, a P/E ratio of -7.24 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.79 and a current ratio of 9.79.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.02. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.63) earnings per share. Equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DNLI has been the topic of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $32.00 target price on shares of Denali Therapeutics in a research note on Friday. UBS Group initiated coverage on shares of Denali Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, January 21st. Stifel Nicolaus set a $37.00 target price on shares of Denali Therapeutics in a research note on Monday, November 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 target price on shares of Denali Therapeutics in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.17.

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.