abrdn plc Sells 209,356 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

abrdn plc lowered its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 36.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 363,679 shares of the company’s stock after selling 209,356 shares during the quarter. abrdn plc owned 0.26% of Denali Therapeutics worth $10,594,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Denali Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares in the last quarter. nVerses Capital LLC acquired a new stake in Denali Therapeutics in the 3rd quarter valued at $288,000. Creative Planning grew its position in Denali Therapeutics by 40.0% in the third quarter. Creative Planning now owns 60,254 shares of the company’s stock valued at $1,755,000 after acquiring an additional 17,221 shares during the period. CWM LLC raised its stake in Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Denali Therapeutics during the second quarter valued at $194,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Stock Performance

NASDAQ DNLI opened at $27.05 on Friday. The stock has a market capitalization of $3.87 billion, a P/E ratio of -9.46 and a beta of 1.38. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $32.13. The stock has a fifty day moving average of $27.33 and a 200-day moving average of $23.01.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. The business’s revenue was down 99.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. Equities research analysts forecast that Denali Therapeutics Inc. will post -2.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DNLI has been the subject of a number of recent analyst reports. Wedbush dropped their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Wednesday, September 4th. Finally, Bank of America boosted their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.90.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $29.03, for a total value of $870,900.00. Following the transaction, the director now owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the sale, the director now directly owns 29,096 shares of the company’s stock, valued at $844,656.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.

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.