The Manufacturers Life Insurance Company Boosts Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

The Manufacturers Life Insurance Company increased its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,819 shares of the company's stock after buying an additional 34,538 shares during the period. The Manufacturers Life Insurance Company owned 0.14% of Denali Therapeutics worth $6,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DNLI. Victory Capital Management Inc. raised its holdings in shares of Denali Therapeutics by 163.7% in the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company's stock worth $1,162,000 after acquiring an additional 24,767 shares during the last quarter. Candriam S.C.A. lifted its holdings in Denali Therapeutics by 62.2% during the second quarter. Candriam S.C.A. now owns 726,499 shares of the company's stock valued at $16,869,000 after purchasing an additional 278,621 shares during the last quarter. Integral Health Asset Management LLC purchased a new stake in shares of Denali Therapeutics during the 2nd quarter valued at approximately $7,546,000. Algert Global LLC boosted its holdings in shares of Denali Therapeutics by 82.4% in the third quarter. Algert Global LLC now owns 48,630 shares of the company's stock worth $1,417,000 after acquiring an additional 21,975 shares during the period. Finally, Rhumbline Advisers grew its holdings in Denali Therapeutics by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 194,859 shares of the company's stock valued at $4,525,000 after buying an additional 22,900 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

Insider Activity at Denali Therapeutics

In related 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 completion of the sale, the director now owns 29,096 shares of the company's stock, valued at $844,656.88. The trade was a 50.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the transaction, the insider now directly owns 178,066 shares in the company, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on DNLI shares. Jefferies Financial Group boosted their price target 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. Bank of America increased their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Cantor Fitzgerald cut Denali Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Monday, October 7th. HC Wainwright restated a "buy" rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Denali Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $38.90.

Denali Therapeutics Trading Up 6.7 %

DNLI traded up $1.57 during midday trading on Friday, reaching $24.89. The company's stock had a trading volume of 513,278 shares, compared to its average volume of 1,059,177. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $33.33. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -8.99 and a beta of 1.35. The stock's 50-day moving average is $26.85 and its 200-day moving average is $24.58.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the company posted ($0.72) earnings per share. As a group, equities research analysts forecast that Denali Therapeutics Inc. will post -2.69 earnings per share 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.