Rhumbline Advisers Acquires 22,900 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Rhumbline Advisers grew its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,859 shares of the company's stock after buying an additional 22,900 shares during the period. Rhumbline Advisers owned approximately 0.14% of Denali Therapeutics worth $4,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of DNLI. Victory Capital Management Inc. lifted its holdings in shares of Denali Therapeutics by 27.0% during the 4th quarter. Victory Capital Management Inc. now owns 15,348 shares of the company's stock worth $329,000 after acquiring an additional 3,267 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Denali Therapeutics by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,006,997 shares of the company's stock valued at $21,610,000 after purchasing an additional 25,938 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Denali Therapeutics by 17.7% in the 4th quarter. BNP Paribas Financial Markets now owns 191,643 shares of the company's stock valued at $4,113,000 after purchasing an additional 28,817 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Denali Therapeutics by 15.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,119,628 shares of the company's stock valued at $24,030,000 after purchasing an additional 146,394 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Denali Therapeutics by 57.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,073,704 shares of the company's stock worth $23,042,000 after buying an additional 393,626 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Insider Transactions at Denali Therapeutics

In related news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction 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 in the company, valued at approximately $761,016.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.90% of the stock is owned by insiders.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI traded down $0.44 during trading on Monday, hitting $30.33. 1,141,245 shares of the company traded hands, compared to its average volume of 1,135,258. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -31.59 and a beta of 1.37. The business's fifty day moving average is $24.05 and its 200 day moving average is $21.21. Denali Therapeutics Inc. has a fifty-two week low of $14.56 and a fifty-two week high of $31.00.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, beating 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, analysts predict that Denali Therapeutics Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Bank of America upped their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Wedbush cut their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $35.00 target price on shares of Denali Therapeutics in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price target on Denali Therapeutics from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

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.