Principal Financial Group Inc. Acquires 149,939 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Principal Financial Group Inc. boosted its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 13.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 approximately 0.86% of Denali Therapeutics worth $36,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Denali Therapeutics by 5.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company's stock valued at $613,000 after buying an additional 1,372 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Denali Therapeutics by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 194,859 shares of the company's stock worth $4,525,000 after acquiring an additional 22,900 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Denali Therapeutics by 4.5% during the 2nd quarter. TD Asset Management Inc now owns 179,152 shares of the company's stock valued at $4,160,000 after acquiring an additional 7,766 shares during the last quarter. Arizona State Retirement System lifted its holdings in Denali Therapeutics by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 33,114 shares of the company's stock worth $769,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Candriam S.C.A. boosted its position in Denali Therapeutics by 62.2% during the second quarter. Candriam S.C.A. now owns 726,499 shares of the company's stock worth $16,869,000 after purchasing an additional 278,621 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Alexander O. Schuth sold 15,558 shares of the firm's stock in a transaction on 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 in the company, valued at $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the company's stock in a transaction 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 completion of the transaction, the director now directly owns 29,096 shares of the company's stock, valued at approximately $844,656.88. The trade was a 50.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,578 shares of company stock valued at $2,474,440 over the last 90 days. 7.90% of the stock is owned by company insiders.

Denali Therapeutics Stock Up 0.7 %

DNLI stock traded up $0.14 during midday trading on Tuesday, reaching $20.92. 265,790 shares of the company's stock traded hands, compared to its average volume of 1,059,123. The company has a 50-day simple moving average of $25.58 and a two-hundred day simple moving average of $24.93. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $33.33. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -7.58 and a beta of 1.35.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same period in the prior year, the business posted ($0.72) EPS. Equities research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on DNLI. Raymond James reissued a "market perform" rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Stifel Nicolaus upgraded Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price target for the company in a report on Monday, December 16th. Cantor Fitzgerald lowered shares of Denali Therapeutics from an "overweight" rating to a "neutral" rating in a research report on Monday, October 7th. HC Wainwright restated a "buy" rating and issued a $90.00 price target on shares of Denali Therapeutics in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upped their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Denali Therapeutics has an average rating of "Moderate Buy" and an average price target of $40.40.

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.