Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,088,537 shares of the company's stock after selling 33,999 shares during the quarter. Principal Financial Group Inc. owned about 0.76% of Denali Therapeutics worth $25,276,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DNLI. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Denali Therapeutics by 5.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company's stock worth $613,000 after acquiring an additional 1,372 shares during the period. MONECO Advisors LLC purchased a new position in Denali Therapeutics during the 2nd quarter valued at about $202,000. Hamilton Lane Advisors LLC purchased a new position in Denali Therapeutics during the 2nd quarter valued at about $596,000. SG Americas Securities LLC increased its position in shares of Denali Therapeutics by 93.4% during the second quarter. SG Americas Securities LLC now owns 13,808 shares of the company's stock valued at $321,000 after buying an additional 6,667 shares during the period. Finally, Clarius Group LLC lifted its holdings in shares of Denali Therapeutics by 4.5% in the second quarter. Clarius Group LLC now owns 409,995 shares of the company's stock worth $9,520,000 after buying an additional 17,777 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the transaction, the director now directly owns 34,404 shares of the company's stock, valued at approximately $761,016.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Denali Therapeutics news, Director Jennifer E. Cook sold 1,458 shares of the business's stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the transaction, the director now owns 20,038 shares in the company, valued at $435,425.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the company's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the transaction, the director now directly owns 34,404 shares of the company's stock, valued at $761,016.48. The disclosure for this sale can be found here. Insiders sold a total of 32,146 shares of company stock worth $710,274 over the last three months. Company insiders own 7.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on DNLI shares. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, July 10th. Stifel Nicolaus decreased their price target on shares of Denali Therapeutics from $26.00 to $22.00 and set a "hold" rating on the stock in a report on Wednesday, May 8th. Citigroup increased their price objective on Denali Therapeutics from $26.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, Wedbush reduced their target price on Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Denali Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $39.33.

Denali Therapeutics Price Performance

DNLI stock traded up $0.68 during mid-day trading on Tuesday, hitting $25.12. 1,439,573 shares of the stock were exchanged, compared to its average volume of 1,137,328. The business has a fifty day moving average price of $23.12 and a 200 day moving average price of $20.65. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $25.90. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -26.17 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.09. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. The business's quarterly revenue was down 99.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. As a group, equities analysts forecast that Denali Therapeutics Inc. will post -2.54 EPS for the current fiscal 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.