Baillie Gifford & Co. Decreases Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Baillie Gifford & Co. trimmed its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,313,931 shares of the company's stock after selling 1,031,956 shares during the period. Baillie Gifford & Co. owned approximately 8.56% of Denali Therapeutics worth $250,958,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Rhumbline Advisers raised its holdings in Denali Therapeutics by 0.3% during the fourth quarter. Rhumbline Advisers now owns 190,390 shares of the company's stock worth $3,880,000 after acquiring an additional 497 shares in the last quarter. Empowered Funds LLC bought a new stake in Denali Therapeutics during the fourth quarter worth about $379,000. abrdn plc raised its holdings in Denali Therapeutics by 10.6% during the fourth quarter. abrdn plc now owns 402,282 shares of the company's stock worth $8,199,000 after acquiring an additional 38,603 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Denali Therapeutics by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 30,517 shares of the company's stock worth $622,000 after acquiring an additional 2,982 shares in the last quarter. Finally, KBC Group NV raised its holdings in Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock worth $129,000 after acquiring an additional 2,731 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Denali Therapeutics news, insider Carole Ho sold 12,255 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the sale, the director now owns 107,976 shares of the company's stock, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,940 shares of company stock valued at $973,442 in the last three months. Insiders own 7.90% of the company's stock.

Wall Street Analysts Forecast Growth

DNLI has been the topic of a number of recent analyst reports. HC Wainwright lowered their price target on Denali Therapeutics from $90.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus raised Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price target on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Baird R W raised Denali Therapeutics to a "strong-buy" rating in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group boosted their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.42.

Denali Therapeutics Trading Down 2.9 %

NASDAQ DNLI traded down $0.64 on Thursday, hitting $21.59. 784,067 shares of the company's stock were exchanged, compared to its average volume of 959,881. The stock has a 50-day moving average of $21.67 and a 200-day moving average of $24.67. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $33.33. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -7.82 and a beta of 1.43.

Denali Therapeutics 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.