Principal Financial Group Inc. Increases Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Principal Financial Group Inc. lifted its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,238,476 shares of the company's stock after buying an additional 149,939 shares during the period. Principal Financial Group Inc. owned about 0.87% of Denali Therapeutics worth $36,076,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DNLI. GAMMA Investing LLC increased its position in shares of Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company's stock worth $48,000 after acquiring an additional 1,847 shares during the last quarter. CWM LLC boosted its holdings in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company's stock worth $63,000 after purchasing an additional 654 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Denali Therapeutics during the first quarter valued at about $88,000. SG Americas Securities LLC bought a new stake in Denali Therapeutics during the first quarter worth about $147,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Denali Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company's stock valued at $152,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds own 92.92% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction, the director now directly owns 29,096 shares of the company's stock, valued at $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction 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 in the company, valued at $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan J. Watts sold 40,000 shares of the 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 of the company's stock, valued at approximately $6,529,495.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DNLI. JPMorgan Chase & Co. cut their price target on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Bank of America lifted their target price 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. Raymond James reissued a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Wedbush reduced 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 note on Friday, August 2nd. Finally, Jefferies Financial Group raised their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.90.

Denali Therapeutics Stock Down 5.8 %

DNLI stock traded down $1.83 on Tuesday, reaching $29.75. 411,572 shares of the company's stock were exchanged, compared to its average volume of 1,066,561. The firm has a market cap of $4.28 billion, a PE ratio of -11.44 and a beta of 1.40. The stock has a fifty day moving average of $27.95 and a 200-day moving average of $23.73. Denali Therapeutics Inc. has a twelve month low of $14.56 and a twelve month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same quarter in the prior year, the business earned ($0.72) earnings per share. On average, equities research analysts predict that Denali Therapeutics Inc. will post -2.62 EPS 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.