Nomura Asset Management Co. Ltd. Buys Shares of 65,033 Denali Therapeutics Inc. (NASDAQ:DNLI)

Nomura Asset Management Co. Ltd. acquired a new position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 65,033 shares of the company's stock, valued at approximately $1,894,000.

A number of other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake in Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company's stock worth $63,000 after acquiring an additional 654 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Denali Therapeutics during the third quarter worth approximately $73,000. Assetmark Inc. raised its position in shares of Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company's stock worth $111,000 after purchasing an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company's stock valued at $152,000 after purchasing an additional 920 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Denali Therapeutics in the 2nd quarter valued at $194,000. 92.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DNLI has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research note on Thursday, November 7th. Jefferies Financial Group raised their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. decreased their price objective on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, October 11th. Bank of America raised their target price on Denali Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Finally, Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Denali Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $38.90.

Insiders Place Their Bets

In related news, insider Alexander O. Schuth sold 15,558 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the sale, the insider now directly owns 178,066 shares in the company, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vicki L. Sato sold 1,020 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the transaction, the director now directly owns 111,056 shares of the company's stock, valued at approximately $3,331,680. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,578 shares of company stock valued at $2,474,440 over the last ninety days. 7.90% of the stock is currently owned by insiders.

Denali Therapeutics Stock Down 2.1 %

NASDAQ DNLI traded down $0.50 during trading hours on Friday, reaching $22.97. 719,126 shares of the company were exchanged, compared to its average volume of 1,050,527. The stock has a market capitalization of $3.31 billion, a P/E ratio of -8.32 and a beta of 1.35. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $33.33. The business's 50 day simple moving average is $26.28 and its 200-day simple moving average is $24.85.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly 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 firm posted ($0.72) EPS. As a group, sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current 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.