Savvy Advisors Inc. Makes New Investment in Denali Therapeutics Inc. $DNLI

Savvy Advisors Inc. bought a new position in Denali Therapeutics Inc. (NASDAQ:DNLI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 97,793 shares of the company’s stock, valued at approximately $1,368,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Denali Therapeutics by 15.9% in the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company’s stock worth $155,113,000 after purchasing an additional 1,561,647 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Denali Therapeutics by 88.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company’s stock valued at $91,996,000 after buying an additional 3,184,042 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Denali Therapeutics by 42.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company’s stock valued at $59,373,000 after buying an additional 1,308,619 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Denali Therapeutics by 58.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock valued at $22,732,000 after buying an additional 614,555 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Denali Therapeutics by 269.4% during the 1st quarter. Millennium Management LLC now owns 1,493,068 shares of the company’s stock valued at $20,298,000 after buying an additional 1,088,844 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, October 8th. TD Cowen upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research report on Monday, July 28th. Morgan Stanley lowered their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Denali Therapeutics in a research report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $33.50.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,937 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value of $39,884.46. Following the sale, the insider owned 242,346 shares of the company’s stock, valued at $3,291,058.68. This trade represents a 1.20% 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, insider Carole Ho sold 2,937 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the sale, the insider directly owned 217,391 shares in the company, valued at approximately $2,952,169.78. This trade represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,680 shares of company stock worth $91,569. 12.50% of the stock is owned by corporate insiders.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI opened at $16.38 on Friday. The stock has a market cap of $2.39 billion, a PE ratio of -5.85 and a beta of 1.30. The company’s fifty day moving average is $15.12 and its 200 day moving average is $14.59. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33. The company has a quick ratio of 10.27, a current ratio of 10.27 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Monday, August 11th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.02. During the same quarter in the previous year, the firm posted ($0.59) earnings per share. Research analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

About Denali Therapeutics

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.