Arizona State Retirement System Buys 2,730 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Arizona State Retirement System lifted its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 9.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 33,114 shares of the company’s stock after buying an additional 2,730 shares during the quarter. Arizona State Retirement System’s holdings in Denali Therapeutics were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Denali Therapeutics by 107.9% during the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after buying an additional 3,140,429 shares during the last quarter. Norges Bank bought a new stake in shares of Denali Therapeutics in the fourth quarter valued at approximately $24,736,000. Baker BROS. Advisors LP lifted its stake in shares of Denali Therapeutics by 43.1% during the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after buying an additional 1,124,499 shares in the last quarter. Braidwell LP bought a new position in Denali Therapeutics in the 4th quarter worth approximately $9,910,000. Finally, Principal Financial Group Inc. grew its stake in Denali Therapeutics by 57.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,073,704 shares of the company’s stock valued at $23,042,000 after buying an additional 393,626 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Up 10.1 %

NASDAQ DNLI opened at $30.77 on Friday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -32.05 and a beta of 1.37. The company has a 50-day simple moving average of $23.87 and a two-hundred day simple moving average of $21.15. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $31.00.

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

Insider Activity at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the transaction, the director now directly owns 34,404 shares of the company’s stock, valued at $761,016.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DNLI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price target on shares of Denali Therapeutics in a research report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Bank of America raised their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price target on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Citigroup boosted their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy 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 $38.33.

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.