Thrivent Financial for Lutherans Increases Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Thrivent Financial for Lutherans boosted its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 6.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,862 shares of the company’s stock after acquiring an additional 8,358 shares during the period. Thrivent Financial for Lutherans’ holdings in Denali Therapeutics were worth $4,045,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DNLI. Point72 Asset Management L.P. bought a new position in shares of Denali Therapeutics in the second quarter worth $24,454,000. Integral Health Asset Management LLC bought a new position in Denali Therapeutics in the 2nd quarter worth about $7,546,000. Candriam S.C.A. increased its stake in Denali Therapeutics by 62.2% in the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock worth $16,869,000 after acquiring an additional 278,621 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Denali Therapeutics by 12.7% in the 2nd quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock valued at $56,165,000 after acquiring an additional 272,454 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Denali Therapeutics by 58.7% during the 2nd quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock valued at $14,395,000 after acquiring an additional 229,313 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DNLI. Wedbush dropped their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Citigroup upped their target price on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Cantor Fitzgerald lowered Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, Bank of America increased their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $38.90.

Insider Transactions at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the sale, the director now directly owns 111,056 shares in the company, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,578 shares of company stock worth $2,474,440. 7.90% of the stock is currently owned by insiders.

Denali Therapeutics Stock Up 1.9 %

Shares of DNLI opened at $24.69 on Monday. The stock has a market capitalization of $3.55 billion, a P/E ratio of -8.95 and a beta of 1.40. Denali Therapeutics Inc. has a twelve month low of $14.56 and a twelve month high of $33.33. The firm has a fifty day simple moving average of $27.88 and a two-hundred day simple moving average of $24.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the prior year, the company earned ($0.72) earnings per share. Sell-side analysts expect that Denali Therapeutics Inc. will post -2.69 EPS for the current fiscal year.

Denali Therapeutics Company 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.