Baillie Gifford & Co. Cuts Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Baillie Gifford & Co. reduced its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,345,887 shares of the company's stock after selling 417,709 shares during the period. Baillie Gifford & Co. owned approximately 9.32% of Denali Therapeutics worth $388,766,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Capital Research Global Investors boosted its position in shares of Denali Therapeutics by 107.9% during the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company's stock valued at $124,145,000 after buying an additional 3,140,429 shares during the last quarter. Baker BROS. Advisors LP boosted its position in Denali Therapeutics by 43.1% in the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company's stock worth $76,574,000 after purchasing an additional 1,124,499 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Denali Therapeutics in the second quarter worth about $24,454,000. Integral Health Asset Management LLC purchased a new position in Denali Therapeutics in the second quarter worth about $7,546,000. Finally, Candriam S.C.A. boosted its position in Denali Therapeutics by 62.2% in the second quarter. Candriam S.C.A. now owns 726,499 shares of the company's stock worth $16,869,000 after purchasing an additional 278,621 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on DNLI shares. Raymond James reaffirmed a "market perform" rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Cantor Fitzgerald downgraded Denali Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Monday, October 7th. Wedbush decreased their target price on Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Finally, Bank of America lifted their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.90.

Insider Transactions at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the sale, the chief executive officer now directly owns 235,807 shares of the company's stock, valued at $6,529,495.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the business's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the transaction, the chief executive officer now owns 235,807 shares of the company's stock, valued at approximately $6,529,495.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction on Monday, September 30th. The shares were sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the sale, the director now owns 29,096 shares in the company, valued at $844,656.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company's stock.

Denali Therapeutics Stock Performance

NASDAQ DNLI traded down $1.55 on Tuesday, reaching $30.03. 227,017 shares of the stock traded hands, compared to its average volume of 1,065,849. The company has a fifty day moving average price of $27.95 and a 200-day moving average price of $23.73. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -11.44 and a beta of 1.40. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the company earned ($0.72) earnings per share. As a group, research analysts anticipate that Denali Therapeutics Inc. will post -2.62 earnings per share for the current fiscal year.

About Denali Therapeutics

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.