abrdn plc Has $10.59 Million Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

abrdn plc lowered its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 36.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 363,679 shares of the company’s stock after selling 209,356 shares during the period. abrdn plc’s holdings in Denali Therapeutics were worth $10,594,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after purchasing an additional 1,847 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after buying an additional 807 shares during the period. CWM LLC grew its holdings in Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. Headlands Technologies LLC bought a new stake in Denali Therapeutics in the first quarter worth approximately $88,000. Finally, SG Americas Securities LLC bought a new stake in shares of Denali Therapeutics in the 1st quarter valued at $147,000. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $27.05 on Friday. Denali Therapeutics Inc. has a fifty-two week low of $14.56 and a fifty-two week high of $32.13. The stock has a market cap of $3.87 billion, a P/E ratio of -9.46 and a beta of 1.38. The firm’s fifty day moving average price is $27.33 and its 200-day moving average price is $23.01.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $10.00 million. During the same period in the prior year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was down 99.7% compared to the same quarter last year. Sell-side analysts predict that Denali Therapeutics Inc. will post -2.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DNLI shares. Cantor Fitzgerald lowered Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Jefferies Financial Group boosted their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America increased their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Wedbush decreased their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

Insider Activity at Denali Therapeutics

In related news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the sale, the director now owns 29,096 shares in the company, valued at $844,656.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the sale, the chief executive officer now owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the sale, the director now directly owns 29,096 shares in the company, valued at $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.90% of the stock is owned by 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.