Thrivent Financial for Lutherans Sells 32,298 Shares of Denali Therapeutics Inc. $DNLI

Thrivent Financial for Lutherans trimmed its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 47.6% in the third quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Denali Therapeutics in the 2nd quarter worth $55,224,000. Goldman Sachs Group Inc. grew its position in shares of Denali Therapeutics by 58.1% in the first 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 last quarter. Holocene Advisors LP bought a new position in shares of Denali Therapeutics in the second quarter worth about $5,640,000. Cubist Systematic Strategies LLC acquired a new position in shares of Denali Therapeutics during the 2nd quarter worth about $5,548,000. Finally, Edgestream Partners L.P. bought a new stake in Denali Therapeutics during the 2nd quarter valued at approximately $4,797,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DNLI has been the subject of a number of research analyst reports. Wedbush cut their price target on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. UBS Group began coverage on shares of Denali Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their price target on shares of Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. BTIG Research restated a “buy” rating and set a $32.00 price objective on shares of Denali Therapeutics in a report on Friday, February 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $40.00 target price on shares of Denali Therapeutics in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.27.

Insider Transactions at Denali Therapeutics

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

Denali Therapeutics Trading Up 2.7%

Shares of Denali Therapeutics stock opened at $19.28 on Wednesday. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $23.77. The firm has a market capitalization of $2.83 billion, a PE ratio of -6.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.79 and a quick ratio of 9.79. The company’s fifty day moving average price is $18.51 and its two-hundred day moving average price is $16.74.

Denali Therapeutics Profile

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.