Nomura Asset Management Co. Ltd. Purchases Shares of 65,033 Denali Therapeutics Inc. (NASDAQ:DNLI)

Nomura Asset Management Co. Ltd. acquired a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) during the 3rd quarter, Holdings Channel reports. The fund acquired 65,033 shares of the company’s stock, valued at approximately $1,894,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after buying an additional 903,683 shares in the last quarter. FMR LLC grew its position in shares of Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Denali Therapeutics by 63.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after purchasing an additional 1,451,770 shares during the period. Marshall Wace LLP lifted its holdings in Denali Therapeutics by 12.7% in the 2nd quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock worth $56,165,000 after purchasing an additional 272,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after purchasing an additional 84,522 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DNLI has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Jefferies Financial Group raised their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America boosted their target price on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.90.

Insiders Place Their Bets

In other news, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total transaction of $465,339.78. Following the transaction, the insider now owns 178,066 shares in the company, valued at approximately $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,578 shares of company stock worth $2,474,440 in the last ninety days. 7.90% of the stock is owned by company insiders.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $22.97 on Friday. The stock has a 50 day moving average price of $26.28 and a 200-day moving average price of $24.80. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -8.32 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.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data 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 firm posted ($0.72) earnings per share. Sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

About Denali Therapeutics

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.