Charles Schwab Investment Management Inc. Reduces Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Charles Schwab Investment Management Inc. reduced its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,015,810 shares of the company’s stock after selling 43,494 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Denali Therapeutics were worth $29,591,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Intech Investment Management LLC purchased a new stake in Denali Therapeutics in the 3rd quarter valued at $861,000. Quest Partners LLC purchased a new stake in Denali Therapeutics in the 3rd quarter valued at $73,000. Swiss National Bank grew its holdings in Denali Therapeutics by 7.7% in the 3rd quarter. Swiss National Bank now owns 250,700 shares of the company’s stock valued at $7,303,000 after buying an additional 17,900 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Denali Therapeutics by 6.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 138,862 shares of the company’s stock valued at $4,045,000 after buying an additional 8,358 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Denali Therapeutics by 163.7% in the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after buying an additional 24,767 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Trading Down 0.8 %

DNLI opened at $23.70 on Thursday. The stock’s 50-day moving average price is $26.97 and its 200 day moving average price is $24.58. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $33.33. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -8.59 and a beta of 1.35.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the prior year, the business earned ($0.72) earnings per share. On average, research analysts forecast that Denali Therapeutics Inc. will post -2.69 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $29.91, for a total transaction of $465,339.78. Following the sale, the insider now owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the sale, the director now directly owns 111,056 shares in the company, valued at $3,331,680. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,578 shares of company stock valued at $2,474,440 in the last quarter. Corporate insiders own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on DNLI shares. JPMorgan Chase & Co. lowered their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Bank of America increased their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Jefferies Financial Group increased their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

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.