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

The Manufacturers Life Insurance Company raised its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 208,521 shares of the company’s stock after buying an additional 1,702 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.14% of Denali Therapeutics worth $4,250,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new position in shares of Denali Therapeutics in the 4th quarter valued at approximately $532,000. Proficio Capital Partners LLC acquired a new stake in shares of Denali Therapeutics during the fourth quarter worth $514,000. JPMorgan Chase & Co. grew its holdings in shares of Denali Therapeutics by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after buying an additional 14,324 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after acquiring an additional 149,939 shares during the period. Finally, Vanguard Group Inc. raised its stake in Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after acquiring an additional 843,996 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on DNLI shares. B. Riley reiterated a “buy” rating and set a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. Cantor Fitzgerald upgraded shares of Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price objective on the stock. Robert W. Baird decreased their target price on shares of Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Bank of America cut their price target on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $33.79.

Denali Therapeutics Price Performance

Shares of DNLI stock opened at $14.43 on Friday. The stock has a 50 day simple moving average of $14.30 and a 200-day simple moving average of $20.16. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -5.23 and a beta of 1.49.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same quarter last year, the firm earned ($0.68) EPS. Analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Denali Therapeutics Profile

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.