SCS Capital Management LLC Invests $5.09 Million in Denali Therapeutics Inc. $DNLI

SCS Capital Management LLC bought a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 197,998 shares of the company’s stock, valued at approximately $5,093,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Denali Therapeutics by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company’s stock worth $1,210,000 after acquiring an additional 3,432 shares during the period. Goldman Sachs Group Inc. boosted its position in Denali Therapeutics by 58.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock worth $22,732,000 after purchasing an additional 614,555 shares during the last quarter. Empowered Funds LLC grew its stake in Denali Therapeutics by 11.0% in the 1st quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock valued at $281,000 after purchasing an additional 2,052 shares during the period. Woodline Partners LP grew its stake in Denali Therapeutics by 13.5% in the 1st quarter. Woodline Partners LP now owns 113,517 shares of the company’s stock valued at $1,543,000 after purchasing an additional 13,517 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Denali Therapeutics by 1.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 191,613 shares of the company’s stock valued at $2,681,000 after purchasing an additional 3,210 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DNLI shares. Wall Street Zen upgraded Denali Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. assumed coverage on shares of Denali Therapeutics in a research report on Monday, July 13th. They set an “overweight” rating and a $29.00 price target for the company. Leerink Partners decreased their price objective on shares of Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Robert W. Baird set a $34.00 price objective on shares of Denali Therapeutics in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $41.00 target price on shares of Denali Therapeutics in a research note on Monday, June 22nd. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.92.

Insider Buying and Selling at Denali Therapeutics

In other 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 sale, the insider owned 281,763 shares of the company’s stock, valued at $7,063,798.41. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.70% of the stock is owned by insiders.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $24.40 on Monday. The firm has a market cap of $3.90 billion, a PE ratio of -8.59 and a beta of 1.01. The stock’s fifty day moving average price is $24.04 and its two-hundred day moving average price is $21.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.37 and a quick ratio of 8.32. Denali Therapeutics Inc. has a 1 year low of $12.58 and a 1 year high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The firm had revenue of $3.60 million during the quarter, compared to the consensus estimate of $2.15 million. During the same period last year, the firm earned ($0.72) EPS. On average, equities research analysts forecast that Denali Therapeutics Inc. will post -2.59 EPS for the current year.

About Denali Therapeutics

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.