Stifel Financial Corp Trims Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Stifel Financial Corp cut its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 23.4% in the third quarter, Holdings Channel reports. The firm owned 9,839 shares of the company’s stock after selling 3,008 shares during the period. Stifel Financial Corp’s holdings in Denali Therapeutics were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DNLI. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Denali Therapeutics by 5.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock valued at $613,000 after acquiring an additional 1,372 shares during the period. Rhumbline Advisers boosted its stake in Denali Therapeutics by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 194,859 shares of the company’s stock worth $4,525,000 after purchasing an additional 22,900 shares during the period. TD Asset Management Inc grew its position in Denali Therapeutics by 4.5% during the 2nd quarter. TD Asset Management Inc now owns 179,152 shares of the company’s stock worth $4,160,000 after purchasing an additional 7,766 shares during the last quarter. Arizona State Retirement System grew its position in Denali Therapeutics by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock worth $769,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Candriam S.C.A. increased its stake in Denali Therapeutics by 62.2% in the second quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock valued at $16,869,000 after purchasing an additional 278,621 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Insider Activity

In other news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction 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 completion of the transaction, the director now owns 29,096 shares of the company’s stock, valued at $844,656.88. The trade was a 50.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Vicki L. Sato sold 1,020 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the sale, the director now directly owns 111,056 shares in the company, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,578 shares of company stock worth $2,474,440. Company insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

DNLI has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, December 16th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a research note on Thursday, November 7th. 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. Finally, Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $20.61 on Friday. The company has a market cap of $2.97 billion, a P/E ratio of -7.47 and a beta of 1.35. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $33.33. The business has a fifty day moving average of $25.19 and a two-hundred day moving average of $24.87.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the business posted ($0.72) EPS. Sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 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.