Legal & General Group Plc Purchases New Holdings in Denali Therapeutics Inc. $DNLI

Legal & General Group Plc acquired a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 111,953 shares of the company’s stock, valued at approximately $2,879,000. Legal & General Group Plc owned approximately 0.07% of Denali Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DNLI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Denali Therapeutics by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company’s stock valued at $1,210,000 after purchasing an additional 3,432 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Denali Therapeutics by 58.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock worth $22,732,000 after buying an additional 614,555 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Denali Therapeutics by 11.0% in the first quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock worth $281,000 after buying an additional 2,052 shares during the last quarter. Woodline Partners LP increased its stake in shares of Denali Therapeutics by 13.5% in the first quarter. Woodline Partners LP now owns 113,517 shares of the company’s stock worth $1,543,000 after buying an additional 13,517 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Denali Therapeutics by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 191,613 shares of the company’s stock valued at $2,681,000 after acquiring an additional 3,210 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $22.28 on Friday. The company has a market cap of $3.56 billion, a PE ratio of -7.85 and a beta of 1.01. The company has a fifty day moving average price of $24.44 and a two-hundred day moving average price of $21.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.37 and a quick ratio of 8.32. Denali Therapeutics Inc. has a 12 month low of $12.58 and a 12 month high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The business had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $2.15 million. During the same period last year, the firm posted ($0.72) EPS. Research analysts expect that Denali Therapeutics Inc. will post -2.67 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,768 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $23.44, for a total transaction of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares of the company’s stock, valued at $6,539,642.80. This represents a 0.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DNLI shares. B. Riley Financial raised their price objective on shares of Denali Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. assumed coverage on shares of Denali Therapeutics in a research note on Monday, July 13th. They issued an “overweight” rating and a $29.00 target price on the stock. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Denali Therapeutics in a research report on Monday, June 22nd. Robert W. Baird set a $34.00 price target on Denali Therapeutics in a research note on Friday, August 7th. Finally, Stifel Nicolaus set a $41.00 price objective on Denali Therapeutics in a report on Monday, June 22nd. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.85.

Denali Therapeutics Company 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.