abrdn plc Has $8.20 Million Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

abrdn plc grew its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 10.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 402,282 shares of the company's stock after buying an additional 38,603 shares during the period. abrdn plc owned approximately 0.28% of Denali Therapeutics worth $8,199,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company's stock worth $312,491,000 after purchasing an additional 903,683 shares in the last quarter. FMR LLC raised its position in Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company's stock worth $228,128,000 after purchasing an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company's stock worth $109,223,000 after purchasing an additional 1,451,770 shares in the last quarter. Principal Financial Group Inc. raised its position in Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock worth $36,076,000 after purchasing an additional 149,939 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Denali Therapeutics by 14.5% in the third quarter. Fisher Asset Management LLC now owns 547,331 shares of the company's stock worth $15,944,000 after purchasing an additional 69,223 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Denali Therapeutics Trading Up 1.2 %

Shares of DNLI traded up $0.24 during mid-day trading on Wednesday, hitting $20.82. 747,279 shares of the company traded hands, compared to its average volume of 1,007,628. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $33.33. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -7.54 and a beta of 1.43. The business has a 50-day moving average of $21.98 and a 200 day moving average of $24.76.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DNLI shares. Stifel Nicolaus raised shares of Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price target for the company in a research report on Monday, December 16th. Baird R W raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Tuesday, January 7th. Robert W. Baird started coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They set an "outperform" rating and a $31.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research note on Tuesday. They set a "buy" rating and a $31.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.42.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the sale, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan J. Watts sold 29,266 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the sale, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,940 shares of company stock valued at $973,442. 7.90% of the stock is currently owned by insiders.

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.