The Manufacturers Life Insurance Company Makes New $3.02 Million Investment in Denali Therapeutics Inc. $DNLI

The Manufacturers Life Insurance Company acquired a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 117,348 shares of the company’s stock, valued at approximately $3,018,000.

A number of other hedge funds have also recently made changes to their positions in DNLI. BlackRock Inc. bought a new stake in shares of Denali Therapeutics during the second quarter worth about $360,759,000. Vanguard Group Inc. lifted its position in Denali Therapeutics by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock valued at $215,586,000 after acquiring an additional 1,064,972 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Denali Therapeutics by 28.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock valued at $119,766,000 after acquiring an additional 1,615,565 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in Denali Therapeutics by 30.9% during the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock valued at $115,784,000 after purchasing an additional 1,657,142 shares during the last quarter. Finally, State Street Corp boosted its stake in Denali Therapeutics by 14.6% during the 4th quarter. State Street Corp now owns 6,263,371 shares of the company’s stock valued at $103,408,000 after purchasing an additional 799,110 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $23.26 on Wednesday. The company has a current ratio of 8.37, a quick ratio of 8.32 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -8.19 and a beta of 1.01. The stock has a 50 day moving average of $24.58 and a 200 day moving average of $21.78. Denali Therapeutics Inc. has a 12 month low of $12.58 and a 12 month high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data 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 business had revenue of $3.60 million during the quarter, compared to analyst estimates of $2.15 million. During the same quarter in the prior year, the company posted ($0.72) earnings per share. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

DNLI has been the subject of several analyst reports. Morgan Stanley increased their price objective on Denali Therapeutics from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. BTIG Research reaffirmed a “buy” rating and set a $39.00 target price on shares of Denali Therapeutics in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft increased their price target on Denali Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. started coverage on Denali Therapeutics in a research note on Monday, July 13th. They set an “overweight” rating and a $29.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Denali Therapeutics in a report on Monday, July 13th. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.85.

Insider Buying and Selling at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,857 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total value of $71,624.99. Following the transaction, the insider directly owned 281,763 shares of the company’s stock, valued at approximately $7,063,798.41. The trade was a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.