Principal Financial Group Inc. Has $14.70 Million Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Principal Financial Group Inc. lessened its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,081,578 shares of the company’s stock after selling 49,385 shares during the quarter. Principal Financial Group Inc. owned about 0.74% of Denali Therapeutics worth $14,704,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DNLI. Sterling Capital Management LLC increased its holdings in shares of Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after acquiring an additional 1,516 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Denali Therapeutics during the fourth quarter worth about $62,000. Point72 Hong Kong Ltd bought a new position in shares of Denali Therapeutics during the fourth quarter worth about $65,000. PNC Financial Services Group Inc. grew its holdings in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after buying an additional 885 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Denali Therapeutics by 177.1% during the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company’s stock worth $142,000 after buying an additional 4,449 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. William Blair upgraded Denali Therapeutics to a “strong-buy” rating in a research note on Thursday, April 24th. Wedbush decreased their price target on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Robert W. Baird decreased their price target on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. HC Wainwright decreased their price target on Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Bank of America decreased their price target on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $33.71.

Insiders Place Their Bets

In related news, CEO Ryan J. Watts sold 495,282 shares of the business’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the sale, the chief executive officer owned 253,071 shares in the company, valued at $3,796,065. The trade was a 66.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.50% of the stock is owned by corporate insiders.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $14.52 on Friday. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The business’s fifty day moving average is $14.25 and its 200-day moving average is $16.60. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -5.44 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period last year, the company posted ($0.68) earnings per share. As a group, research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

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.