TD Asset Management Inc Reduces Stock Position in Denali Therapeutics Inc. $DNLI

TD Asset Management Inc trimmed its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 20.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 394,600 shares of the company’s stock after selling 101,690 shares during the period. TD Asset Management Inc’s holdings in Denali Therapeutics were worth $5,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. AlphaQuest LLC grew its position in shares of Denali Therapeutics by 224.1% in the 3rd quarter. AlphaQuest LLC now owns 74,422 shares of the company’s stock valued at $1,081,000 after buying an additional 51,458 shares during the last quarter. Aberdeen Group plc boosted its stake in Denali Therapeutics by 23.4% in the third quarter. Aberdeen Group plc now owns 1,113,586 shares of the company’s stock valued at $16,169,000 after acquiring an additional 210,835 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Denali Therapeutics by 18.5% during the third quarter. Principal Financial Group Inc. now owns 1,271,190 shares of the company’s stock worth $18,458,000 after purchasing an additional 198,207 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Denali Therapeutics by 32.5% during the second quarter. Schroder Investment Management Group now owns 386,539 shares of the company’s stock worth $5,408,000 after purchasing an additional 94,744 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Denali Therapeutics in the 2nd quarter valued at about $55,224,000. 92.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Denali Therapeutics

In other news, 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 value of $580,767.00. Following the completion of the transaction, the chief executive officer owned 296,833 shares in the company, valued at $4,897,744.50. This trade represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander O. Schuth sold 17,218 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $284,097.00. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 12.50% of the company’s stock.

Denali Therapeutics Stock Down 4.7%

Shares of Denali Therapeutics stock opened at $20.02 on Wednesday. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $23.77. The company has a market cap of $3.17 billion, a P/E ratio of -6.74 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. The firm has a fifty day moving average of $19.23 and a two-hundred day moving average of $17.20.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. During the same quarter in the previous year, the company posted ($0.67) earnings per share. On average, analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $40.00 price target on shares of Denali Therapeutics in a research note on Thursday, January 8th. Stifel Nicolaus set a $37.00 price target on shares of Denali Therapeutics in a research note on Monday, November 17th. Wedbush lowered their price objective on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. BTIG Research upped their target price on shares of Denali Therapeutics from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.45.

Denali Therapeutics Profile

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.