Principal Financial Group Inc. Purchases 198,207 Shares of Denali Therapeutics Inc. $DNLI

Principal Financial Group Inc. boosted its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,271,190 shares of the company’s stock after purchasing an additional 198,207 shares during the period. Principal Financial Group Inc. owned about 0.87% of Denali Therapeutics worth $18,458,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Denali Therapeutics in the 2nd quarter worth approximately $26,000. State of Wyoming purchased a new stake in Denali Therapeutics during the second quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. raised its position in Denali Therapeutics by 15.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,612 shares of the company’s stock worth $79,000 after acquiring an additional 753 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Denali Therapeutics by 120.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,236 shares of the company’s stock worth $115,000 after acquiring an additional 4,494 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Denali Therapeutics by 7.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,522 shares of the company’s stock valued at $189,000 after acquiring an additional 930 shares during the period. 92.92% of the stock is currently owned by institutional investors.

Insider Activity at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 35,198 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $580,767.00. Following the transaction, the chief executive officer owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander O. Schuth sold 17,218 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the transaction, the insider owned 282,828 shares of the company’s stock, valued at approximately $4,666,662. This represents a 5.74% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 12.50% of the company’s stock.

Denali Therapeutics Stock Performance

NASDAQ DNLI opened at $21.08 on Monday. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a twelve month low of $10.57 and a twelve month high of $23.77. The business has a 50-day moving average price of $18.47 and a 200-day moving average price of $16.46. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -7.24 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.02. During the same period in the previous year, the firm earned ($0.63) earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DNLI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, January 21st. UBS Group initiated coverage on Denali Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating on the stock. Stifel Nicolaus set a $37.00 price objective on Denali Therapeutics in a research note on Monday, November 17th. Morgan Stanley restated an “overweight” rating and set a $40.00 target price on shares of Denali Therapeutics in a research note on Thursday, January 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $32.00 price target on shares of Denali Therapeutics in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $32.17.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.