Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc lifted its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 179,152 shares of the company’s stock after buying an additional 7,766 shares during the period. TD Asset Management Inc owned approximately 0.13% of Denali Therapeutics worth $4,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in DNLI. Rhumbline Advisers increased its holdings in Denali Therapeutics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 194,859 shares of the company’s stock valued at $4,525,000 after purchasing an additional 22,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Denali Therapeutics by 5.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock valued at $613,000 after buying an additional 1,372 shares during the period. MONECO Advisors LLC purchased a new position in Denali Therapeutics in the 2nd quarter valued at approximately $202,000. Hamilton Lane Advisors LLC purchased a new position in Denali Therapeutics in the 2nd quarter valued at approximately $596,000. Finally, SG Americas Securities LLC boosted its position in Denali Therapeutics by 93.4% in the 2nd quarter. SG Americas Securities LLC now owns 13,808 shares of the company’s stock valued at $321,000 after buying an additional 6,667 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DNLI. Citigroup raised their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Denali Therapeutics in a research report on Monday. Bank of America lifted their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $27.08 on Thursday. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $27.11. The company has a 50 day moving average price of $23.43 and a 200 day moving average price of $20.96. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -28.21 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. During the same period in the previous year, the company earned $1.30 EPS. Denali Therapeutics’s revenue was down 99.7% on a year-over-year basis. As a group, equities analysts forecast that Denali Therapeutics Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the transaction, the director now directly owns 34,404 shares in the company, valued at approximately $761,016.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.90% of the company’s stock.

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.