The Manufacturers Life Insurance Company Reduces Stock Holdings in Denali Therapeutics Inc. $DNLI

The Manufacturers Life Insurance Company lessened its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 31.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 125,442 shares of the company’s stock after selling 58,796 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Denali Therapeutics were worth $2,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Denali Therapeutics in the 2nd quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new position in Denali Therapeutics during the third quarter worth about $29,000. State of Wyoming purchased a new stake in shares of Denali Therapeutics in the second quarter valued at about $29,000. Fifth Third Bancorp purchased a new stake in shares of Denali Therapeutics in the first quarter valued at about $55,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Denali Therapeutics during the 4th quarter worth approximately $57,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on DNLI. BTIG Research reaffirmed a “buy” rating and issued a $39.00 target price on shares of Denali Therapeutics in a research note on Monday, May 11th. Wall Street Zen raised Denali Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group boosted their price target on Denali Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Denali Therapeutics in a research note on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.92.

Denali Therapeutics Stock Up 0.4%

Shares of NASDAQ DNLI opened at $24.83 on Friday. Denali Therapeutics Inc. has a 1 year low of $12.58 and a 1 year high of $27.30. The firm’s 50 day moving average price is $23.54 and its 200 day moving average price is $21.28. The firm has a market cap of $3.94 billion, a P/E ratio of -8.74 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.28 and a current ratio of 9.28.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, August 6th. The company reported ($0.68) EPS 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 in the prior year, the firm earned ($0.72) earnings per share. As a group, sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.73 earnings per share for the current year.

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.