Principal Financial Group Inc. Has $28.39 Million Stake in Denali Therapeutics Inc. $DNLI

Principal Financial Group Inc. reduced its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,478,486 shares of the company’s stock after selling 45,637 shares during the quarter. Principal Financial Group Inc.’s holdings in Denali Therapeutics were worth $28,387,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of DNLI. Capricorn Fund Managers Ltd bought a new position in Denali Therapeutics in the fourth quarter valued at approximately $1,027,000. Baillie Gifford & Co. increased its position in shares of Denali Therapeutics by 6.2% during the fourth quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock worth $203,253,000 after acquiring an additional 719,304 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Denali Therapeutics during the fourth quarter worth $1,841,000. Aberdeen Group plc raised its holdings in shares of Denali Therapeutics by 82.6% during the fourth quarter. Aberdeen Group plc now owns 2,032,967 shares of the company’s stock worth $33,564,000 after acquiring an additional 919,381 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Denali Therapeutics by 291.6% during the fourth quarter. SG Americas Securities LLC now owns 149,592 shares of the company’s stock worth $2,470,000 after acquiring an additional 111,391 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

DNLI stock opened at $23.29 on Monday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $22.21 and a two-hundred day moving average price of $20.61. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -8.09 and a beta of 0.96. Denali Therapeutics Inc. has a twelve month low of $12.58 and a twelve month high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the firm posted ($0.78) EPS. Analysts anticipate that Denali Therapeutics Inc. will post -2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Denali Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Morgan Stanley dropped their price target on Denali Therapeutics from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Monday, April 20th. Robert W. Baird upped their price objective on Denali Therapeutics from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Finally, HC Wainwright increased their price objective on Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $35.08.

Denali Therapeutics 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.