Corebridge Financial Inc. Sells 902 Shares of Denali Therapeutics Inc. $DNLI

Corebridge Financial Inc. lowered its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,898 shares of the company’s stock after selling 902 shares during the period. Corebridge Financial Inc.’s holdings in Denali Therapeutics were worth $828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. SG Americas Securities LLC boosted its stake in shares of Denali Therapeutics by 339.6% in the first quarter. SG Americas Securities LLC now owns 48,365 shares of the company’s stock worth $658,000 after acquiring an additional 37,362 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Denali Therapeutics by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,075 shares of the company’s stock valued at $1,733,000 after purchasing an additional 3,411 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Denali Therapeutics during the first quarter valued at approximately $254,000. GAMMA Investing LLC grew its stake in shares of Denali Therapeutics by 253.8% during the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company’s stock valued at $108,000 after buying an additional 5,705 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Denali Therapeutics by 571.8% during the fourth quarter. Millennium Management LLC now owns 404,224 shares of the company’s stock valued at $8,238,000 after buying an additional 344,056 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Alexander O. Schuth sold 2,937 shares of Denali Therapeutics stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the sale, the insider owned 242,346 shares of the company’s stock, valued at approximately $3,291,058.68. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan J. Watts sold 495,282 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total value of $7,429,230.00. Following the completion of the sale, the chief executive officer directly owned 253,071 shares in the company, valued at approximately $3,796,065. The trade was a 66.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 501,962 shares of company stock valued at $7,520,799. 12.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on DNLI. Morgan Stanley dropped their price objective on Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. Bank of America dropped their target price on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Finally, TD Cowen upgraded Denali Therapeutics to a “strong-buy” rating in a report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Denali Therapeutics has an average rating of “Buy” and a consensus price target of $33.62.

Denali Therapeutics Trading Up 4.3%

DNLI stock opened at $15.43 on Friday. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $33.33. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -5.51 and a beta of 1.23. The business’s 50-day moving average is $14.55 and its 200 day moving average is $14.65.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.02. During the same quarter in the previous year, the business earned ($0.59) earnings per share. On average, sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS 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.