TD Asset Management Inc Trims Stock Position in Denali Therapeutics Inc. $DNLI

TD Asset Management Inc cut its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 20.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 394,600 shares of the company’s stock after selling 101,690 shares during the period. TD Asset Management Inc owned 0.27% of Denali Therapeutics worth $5,730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its position in Denali Therapeutics by 7.4% in the second quarter. Ameritas Investment Partners Inc. now owns 13,522 shares of the company’s stock valued at $189,000 after purchasing an additional 930 shares during the period. E Fund Management Co. Ltd. increased its position in shares of Denali Therapeutics by 12.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,612 shares of the company’s stock worth $190,000 after purchasing an additional 1,543 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Denali Therapeutics by 1.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 139,663 shares of the company’s stock valued at $2,028,000 after buying an additional 1,783 shares during the period. California State Teachers Retirement System lifted its position in Denali Therapeutics by 1.5% in the second quarter. California State Teachers Retirement System now owns 119,327 shares of the company’s stock valued at $1,669,000 after buying an additional 1,792 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Denali Therapeutics during the second quarter worth about $26,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DNLI shares. JPMorgan Chase & Co. boosted their price target on shares of Denali Therapeutics from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Wolfe Research assumed coverage on Denali Therapeutics in a research report on Monday, February 23rd. They issued a “peer perform” rating on the stock. Morgan Stanley restated an “overweight” rating and set a $40.00 price target on shares of Denali Therapeutics in a research note on Thursday, January 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Denali Therapeutics in a research note on Monday. Finally, UBS Group began coverage on Denali Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $32.45.

Insider Activity

In other news, insider Alexander O. Schuth sold 17,218 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the completion of the transaction, the insider directly owned 282,828 shares of the company’s stock, valued at approximately $4,666,662. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan J. Watts sold 35,198 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $580,767.00. Following the completion of the sale, the chief executive officer directly owned 296,833 shares in the company, valued at approximately $4,897,744.50. This trade represents a 10.60% 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 $20.02 on Wednesday. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $23.77. The company has a fifty day simple moving average of $19.23 and a two-hundred day simple moving average of $17.20. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -6.74 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same period in the previous year, the business earned ($0.67) earnings per share. As a group, equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

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.