Charles Schwab Investment Management Inc. Trims Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Charles Schwab Investment Management Inc. reduced its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,015,810 shares of the company's stock after selling 43,494 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.71% of Denali Therapeutics worth $29,591,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DNLI. Point72 Asset Management L.P. purchased a new position in Denali Therapeutics during the 2nd quarter valued at $24,454,000. Integral Health Asset Management LLC bought a new stake in shares of Denali Therapeutics during the 2nd quarter valued at $7,546,000. Candriam S.C.A. boosted its holdings in shares of Denali Therapeutics by 62.2% during the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company's stock valued at $16,869,000 after buying an additional 278,621 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Denali Therapeutics by 12.7% during the 2nd quarter. Marshall Wace LLP now owns 2,418,833 shares of the company's stock valued at $56,165,000 after buying an additional 272,454 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Denali Therapeutics by 58.7% during the 2nd quarter. Millennium Management LLC now owns 619,929 shares of the company's stock valued at $14,395,000 after buying an additional 229,313 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 40,000 shares of the company's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now owns 235,807 shares of the company's stock, valued at $6,529,495.83. This represents a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander O. Schuth sold 15,558 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $5,325,954.06. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. HC Wainwright restated a "buy" rating and set a $90.00 target price on shares of Denali Therapeutics in a report on Thursday, November 7th. Raymond James restated a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Cantor Fitzgerald cut shares of Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. Finally, Bank of America upped their price target on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.90.

Denali Therapeutics Price Performance

NASDAQ:DNLI traded down $0.38 during mid-day trading on Thursday, reaching $23.32. The company's stock had a trading volume of 642,654 shares, compared to its average volume of 1,061,500. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $33.33. The firm's fifty day moving average price is $26.97 and its two-hundred day moving average price is $24.58.

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 period last year, the firm earned ($0.72) earnings per share. On average, analysts expect that Denali Therapeutics Inc. will post -2.69 earnings per share for the current year.

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.