Franklin Resources Inc. Raises Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Franklin Resources Inc. boosted its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 3.8% in the 3rd quarter, Holdings Channel reports. The fund owned 80,041 shares of the company’s stock after buying an additional 2,901 shares during the period. Franklin Resources Inc.’s holdings in Denali Therapeutics were worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of DNLI. MONECO Advisors LLC grew its stake in shares of Denali Therapeutics by 4.6% during the 3rd quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock worth $265,000 after purchasing an additional 400 shares during the period. Assetmark Inc. grew its position in Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after buying an additional 580 shares during the period. CWM LLC increased its holdings in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after buying an additional 654 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Denali Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after acquiring an additional 920 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Denali Therapeutics by 5.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock worth $613,000 after acquiring an additional 1,372 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Trading Up 1.9 %

DNLI opened at $21.32 on Friday. Denali Therapeutics Inc. has a twelve month low of $14.56 and a twelve month high of $33.33. The firm has a market capitalization of $3.07 billion, a PE ratio of -7.72 and a beta of 1.35. The firm’s 50-day moving average price is $25.45 and its 200 day moving average price is $24.90.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period last year, the business posted ($0.72) earnings per share. As a group, analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 235,807 shares in the company, valued at approximately $6,529,495.83. This represents a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics 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 completion of the sale, the director now owns 29,096 shares in the company, valued at $844,656.88. This represents a 50.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,578 shares of company stock worth $2,474,440 in the last three months. 7.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DNLI has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Denali Therapeutics in a research note on Thursday, November 7th. Jefferies Financial Group upped their target price on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. dropped their price target on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Finally, Bank of America lifted their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.40.

Denali Therapeutics Company 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.