324,829 Shares in Denali Therapeutics Inc. (NASDAQ:DNLI) Acquired by abrdn plc

abrdn plc bought a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 324,829 shares of the company’s stock, valued at approximately $6,971,000. abrdn plc owned approximately 0.23% of Denali Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DNLI. Vanguard Group Inc. boosted its stake in Denali Therapeutics by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,597,781 shares of the company’s stock worth $218,632,000 after purchasing an additional 354,798 shares in the last quarter. Eventide Asset Management LLC boosted its stake in Denali Therapeutics by 98.4% in the 3rd quarter. Eventide Asset Management LLC now owns 621,850 shares of the company’s stock worth $12,829,000 after purchasing an additional 308,443 shares in the last quarter. Federated Hermes Inc. boosted its stake in Denali Therapeutics by 27.1% in the 3rd quarter. Federated Hermes Inc. now owns 1,351,900 shares of the company’s stock worth $27,890,000 after purchasing an additional 288,400 shares in the last quarter. Wellington Management Group LLP boosted its stake in Denali Therapeutics by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock worth $150,371,000 after purchasing an additional 250,784 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Denali Therapeutics by 13.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 981,059 shares of the company’s stock worth $20,239,000 after purchasing an additional 113,428 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $15.43 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -14.29 and a beta of 1.33. The company has a 50 day moving average price of $19.03 and a 200-day moving average price of $19.08. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $33.31.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Tuesday, February 27th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.05). Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 13.50%. During the same quarter in the previous year, the business earned ($0.75) EPS. On average, sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on DNLI. UBS Group reduced their price target on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. HC Wainwright reduced their price target on shares of Denali Therapeutics from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Wedbush reissued an “outperform” rating and set a $31.00 price target on shares of Denali Therapeutics in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group reduced their price target on shares of Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $41.22.

Insider Buying and Selling

In other Denali Therapeutics news, insider Carole Ho sold 2,784 shares of Denali Therapeutics stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total transaction of $48,135.36. Following the sale, the insider now owns 145,010 shares of the company’s stock, valued at approximately $2,507,222.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Denali Therapeutics news, insider Carole Ho sold 2,784 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total value of $48,135.36. Following the transaction, the insider now owns 145,010 shares of the company’s stock, valued at $2,507,222.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan J. Watts sold 9,589 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total transaction of $165,793.81. Following the completion of the transaction, the chief executive officer now directly owns 238,067 shares in the company, valued at approximately $4,116,178.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,955 shares of company stock valued at $2,218,802. 7.90% of the stock is owned by corporate insiders.

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.