Letko Brosseau & Associates Inc. Invests $264,000 in Denali Therapeutics Inc. (NASDAQ:DNLI)

Letko Brosseau & Associates Inc. acquired a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 11,350 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DNLI. Candriam S.C.A. boosted its stake in shares of Denali Therapeutics by 62.2% during 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 in the last quarter. Arizona State Retirement System raised its holdings in Denali Therapeutics by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock valued at $769,000 after buying an additional 2,730 shares during the last quarter. TD Asset Management Inc boosted 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 buying an additional 7,766 shares during the period. Rhumbline Advisers grew its holdings 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 acquiring an additional 22,900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Denali Therapeutics by 5.5% during 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 last quarter. Institutional investors own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

DNLI has been the topic of several analyst reports. Wedbush reduced their price objective on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Citigroup upped their price target on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a report on Wednesday. Finally, Bank of America increased 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Insider Activity

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the transaction, the director now owns 34,404 shares in the company, valued at $761,016.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.90% of the stock is currently owned by company insiders.

Denali Therapeutics Stock Performance

Shares of DNLI stock remained flat at $25.25 during trading hours on Friday. 695,238 shares of the stock traded hands, compared to its average volume of 1,129,859. The company’s fifty day simple moving average is $23.26 and its 200 day simple moving average is $20.77. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -26.30 and a beta of 1.40. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $25.90.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. During the same quarter in the previous year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was down 99.7% compared to the same quarter last year. On average, analysts anticipate that Denali Therapeutics Inc. will post -2.54 earnings per share for the current fiscal 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.