abrdn plc Sells 209,356 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

abrdn plc decreased its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 36.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,679 shares of the company's stock after selling 209,356 shares during the period. abrdn plc owned about 0.26% of Denali Therapeutics worth $10,594,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DNLI. GAMMA Investing LLC increased its holdings in Denali Therapeutics by 879.5% in the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company's stock worth $48,000 after buying an additional 1,847 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company's stock worth $53,000 after purchasing an additional 807 shares during the period. CWM LLC boosted its position in Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company's stock worth $63,000 after purchasing an additional 654 shares during the period. Headlands Technologies LLC bought a new stake in Denali Therapeutics during the first quarter worth approximately $88,000. Finally, SG Americas Securities LLC bought a new stake in Denali Therapeutics during the first quarter worth approximately $147,000. Institutional investors and hedge funds own 92.92% of the company's stock.

Denali Therapeutics Trading Up 4.2 %

Shares of NASDAQ:DNLI traded up $1.09 during trading on Friday, hitting $27.05. 837,711 shares of the company's stock traded hands, compared to its average volume of 1,078,313. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $32.13. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -9.49 and a beta of 1.38. The company has a 50-day moving average price of $27.38 and a 200-day moving average price of $23.07.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. During the same quarter last year, the firm earned $1.30 EPS. The company's revenue for the quarter was down 99.7% on a year-over-year basis. On average, analysts predict that Denali Therapeutics Inc. will post -2.53 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In related news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the sale, the director now owns 29,096 shares of the company's stock, valued at approximately $844,656.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now owns 29,096 shares of the company's stock, valued at $844,656.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan J. Watts sold 40,000 shares of the business's 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 transaction, the chief executive officer now directly owns 235,807 shares in the company, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DNLI has been the subject of several research reports. Cantor Fitzgerald cut Denali Therapeutics from an "overweight" rating to a "neutral" rating in a research report on Monday, October 7th. HC Wainwright reiterated a "buy" rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Bank of America raised their target price on Denali Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Finally, Wedbush lowered their target price on Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have given a 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 $38.90.

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.