Denali Therapeutics Inc. $DNLI Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 47.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,619 shares of the company’s stock after selling 32,298 shares during the period. Thrivent Financial for Lutherans’ holdings in Denali Therapeutics were worth $517,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Denali Therapeutics during the 2nd quarter valued at $55,224,000. Geode Capital Management LLC lifted its holdings in shares of Denali Therapeutics by 4.4% during the second quarter. Geode Capital Management LLC now owns 3,172,305 shares of the company’s stock valued at $44,386,000 after purchasing an additional 135,129 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Denali Therapeutics by 58.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock valued at $22,732,000 after purchasing an additional 614,555 shares during the period. Fisher Asset Management LLC increased its stake in Denali Therapeutics by 11.1% in the 2nd quarter. Fisher Asset Management LLC now owns 1,515,991 shares of the company’s stock worth $21,209,000 after purchasing an additional 151,032 shares in the last quarter. Finally, Stempoint Capital LP increased its stake in Denali Therapeutics by 6.1% in the 2nd quarter. Stempoint Capital LP now owns 707,915 shares of the company’s stock worth $9,904,000 after purchasing an additional 40,837 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

DNLI has been the subject of several recent analyst reports. UBS Group started coverage on shares of Denali Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $40.00 price target on shares of Denali Therapeutics in a research report on Thursday, January 8th. Stifel Nicolaus set a $37.00 price objective on shares of Denali Therapeutics in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Wednesday, January 21st. Finally, Wedbush decreased their target price on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Denali Therapeutics presently has an average rating of “Buy” and a consensus price target of $32.27.

Denali Therapeutics Price Performance

DNLI opened at $19.28 on Wednesday. The stock has a fifty day moving average price of $18.51 and a 200 day moving average price of $16.74. The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 1 year low of $10.57 and a 1 year high of $23.77. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -6.63 and a beta of 1.02.

Insider Buying and Selling

In other Denali Therapeutics news, insider Alexander O. Schuth sold 17,218 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the transaction, the insider directly owned 282,828 shares in the company, valued at $4,666,662. This trade represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan J. Watts sold 35,198 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $580,767.00. Following the sale, the chief executive officer owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. This trade represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. 12.50% of the stock is owned by insiders.

About Denali Therapeutics

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.