Principal Financial Group Inc. Increases Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Principal Financial Group Inc. increased its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 13.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,238,476 shares of the company’s stock after purchasing an additional 149,939 shares during the period. Principal Financial Group Inc. owned 0.87% of Denali Therapeutics worth $36,076,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DNLI. MONECO Advisors LLC raised its holdings in Denali Therapeutics by 4.6% during the third quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock worth $265,000 after purchasing an additional 400 shares in the last quarter. CWM LLC lifted its stake in shares of Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after purchasing an additional 654 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after buying an additional 920 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Denali Therapeutics by 5.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock worth $613,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Denali Therapeutics by 0.7% in the 1st quarter. Swiss National Bank now owns 218,200 shares of the company’s stock worth $4,477,000 after buying an additional 1,500 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the sale, the director now owns 29,096 shares of the company’s stock, valued at $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was 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 owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on DNLI shares. Bank of America raised their target price on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a report on Thursday, November 7th. Citigroup lifted their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.90.

Denali Therapeutics Price Performance

DNLI opened at $31.58 on Tuesday. The stock’s 50 day moving average price is $27.95 and its 200 day moving average price is $23.73. The stock has a market cap of $4.54 billion, a P/E ratio of -11.44 and a beta of 1.40. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the company posted ($0.72) EPS. Equities analysts anticipate that Denali Therapeutics Inc. will post -2.62 EPS for the current 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.