Man Group plc Makes New Investment in Denali Therapeutics Inc. $DNLI

Man Group plc acquired a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 139,065 shares of the company’s stock, valued at approximately $3,577,000.

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Denali Therapeutics in the 2nd quarter worth $26,000. Global Retirement Partners LLC purchased a new position in Denali Therapeutics in the second quarter worth $28,000. Allworth Financial LP bought a new position in Denali Therapeutics in the second quarter valued at $47,000. Headlands Technologies LLC bought a new position in Denali Therapeutics in the second quarter valued at $26,000. Finally, Johnson Financial Group Inc. purchased a new stake in Denali Therapeutics during the third quarter valued at about $29,000. 92.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DNLI has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and set a $26.00 price objective on shares of Denali Therapeutics in a report on Monday, July 13th. Stifel Nicolaus set a $41.00 price objective on shares of Denali Therapeutics in a report on Monday, June 22nd. UBS Group increased their target price on shares of Denali Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 7th. B. Riley Financial boosted their price target on shares of Denali Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Finally, Morgan Stanley raised their price objective on Denali Therapeutics from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Fourteen research 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 MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $35.85.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $23.76 on Tuesday. The stock’s 50 day simple moving average is $24.61 and its two-hundred day simple moving average is $21.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.32 and a current ratio of 8.37. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -8.37 and a beta of 1.01. Denali Therapeutics Inc. has a fifty-two week low of $12.58 and a fifty-two week 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 analysts’ consensus estimates of ($0.51) by ($0.17). The firm had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $2.15 million. During the same quarter in the previous year, the company earned ($0.72) earnings per share. As a group, analysts expect that Denali Therapeutics Inc. will post -2.67 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,857 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total value of $71,624.99. Following the completion of the transaction, the insider directly owned 281,763 shares in the company, valued at $7,063,798.41. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.70% of the company’s stock.

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.