DNLINasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Denali Therapeutics Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$18.04+0.43 (+2.44%)
Close on Oct 19, 2026
- Market cap
- $3.38B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
97.7%
156M of 160M shares
Institutional holders
293
56 new, 28 sold out
Net institutional buying
8M
In Q2 2026
Insider trades, 12 months
0 buys · 7 sales
Net sold $1.30M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| T. Rowe Price Investment Management, Inc. | 16,178,963 | 10.20% | 13G (passive) amendment | Jun 30, 2026 |
| Baillie Gifford & Co | 11,960,230 | 7.50% | 13G (passive) amendment | Jun 30, 2026 |
| BlackRock, Inc. | 10,490,610 | 7.20% | 13G (passive) amendment | Mar 31, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of DNLI | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| T. Rowe Price Investment Management, Inc. | 16,178,963 | 10.12% | $416.12K | +7,659,771 | 0.27% |
| BlackRock, Inc. | 14,026,413 | 8.77% | $360.76M | +991,979 | 0.01% |
| Baillie Gifford & Co | 11,960,230 | 7.48% | $307.62M | −106,249 | 0.28% |
| State Street Corp | 7,049,304 | 4.41% | $181.31M | +777,303 | 0.01% |
| Temasek Holdings (Private) Ltd | 7,012,974 | 4.39% | $180.37M | – | 0.48% |
| Vanguard Portfolio Management LLC | 6,477,057 | 4.05% | $166.59M | +356,897 | 0.01% |
| Vanguard Capital Management LLC | 6,275,729 | 3.93% | $161.41M | +127,772 | 0.00% |
| FMR LLC | 4,535,836 | 2.84% | $116.66M | −39,538 | 0.01% |
| Goldman Sachs Group Inc | 4,155,895 | 2.60% | $106.89M | −251,360 | 0.01% |
| Geode Capital Management, LLC | 3,973,342 | 2.49% | $102.21M | +246,228 | 0.01% |
| Holocene Advisors, LP | 3,905,225 | 2.44% | $100.44M | +709,796 | 0.23% |
| Baker Bros. Advisors LP | 3,734,336 | 2.34% | $96.05M | +2,641 | 0.48% |
| UBS Asset Management Americas Inc | 3,161,972 | 1.98% | $81.33M | −1,270,342 | 0.01% |
| Price T Rowe Associates Inc /Md/ | 3,136,149 | 1.96% | $80.66K | +672,003 | 0.01% |
| UBS Group AG | 3,120,592 | 1.95% | $80.26M | +549,248 | 0.01% |
| Alliancebernstein L.P. | 2,984,807 | 1.87% | $57.31M | +91,189 | 0.02% |
| Dimensional Fund Advisors LP | 2,860,604 | 1.79% | $73.58M | +168,429 | 0.01% |
| Norges Bank | 2,824,746 | 1.77% | $72.65M | New | 0.01% |
| Pictet Asset Management Holding SA | 2,791,206 | 1.75% | $71.89M | +232,341 | 0.07% |
| Capital Research Global Investors | 2,565,817 | 1.61% | $65.99M | +51,229 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 293 | 156M | 97.7% | 56 / 120 | 68 / 28 | 24M | 15M |
| Q1 2026 | 269 | 148M | 92.5% | 55 / 104 | 58 / 31 | 29M | 20M |
| Q4 2025 | 250 | 152M | 95.3% | 51 / 86 | 71 / 34 | 28M | 11M |
| Q3 2025 | 240 | 136M | 84.9% | 36 / 91 | 66 / 23 | 17M | 19M |
| Q2 2025 | 230 | 138M | 86.3% | 45 / 84 | 64 / 36 | 16M | 14M |
| Q1 2025 | 222 | 136M | 85.1% | 36 / 75 | 79 / 34 | 16M | 8M |
| Q4 2024 | 223 | 128M | 80.0% | 40 / 87 | 59 / 32 | 9M | 8M |
| Q3 2024 | 217 | 127M | 79.4% | 37 / 77 | 60 / 21 | 30M | 14M |
| Q2 2024 | 203 | 124M | 77.9% | 29 / 85 | 59 / 35 | 16M | 14M |
| Q1 2024 | 211 | 124M | 77.8% | 36 / 76 | 70 / 33 | 19M | 11M |
| Q4 2023 | 209 | 117M | 72.9% | 37 / 72 | 69 / 20 | 15M | 7M |
| Q3 2023 | 194 | 109M | 68.0% | 29 / 77 | 57 / 36 | 7M | 5M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of DNLI | Value | % of fund | As of |
|---|---|---|---|---|---|
| T. Rowe Price Capital Appreciation Fund | 4,966,700 | 3.11% | $127.74M | 0.18% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 4,288,391 | 2.68% | $110.30M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 3,804,692 | 2.38% | $97.86M | 0.12% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Biotech ETF | 3,475,517 | 2.17% | $89.39M | 0.83% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 3,097,183 | 1.94% | $79.66M | 0.04% | Jun 30, 2026 |
| Vanguard U.S. Growth Fund | 3,037,857 | 1.90% | $63.92M | 0.13% | May 31, 2026 |
| SMALLCAP World Fund Inc | 2,496,890 | 1.56% | $64.22M | 0.07% | Jun 30, 2026 |
| T. Rowe Price Small-Cap Stock Fund, Inc. | 2,328,096 | 1.46% | $59.88M | 0.64% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 1,784,440 | 1.12% | $45.90M | 0.10% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 1,731,822 | 1.08% | $44.54M | 0.05% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 1,608,716 | 1.01% | $37.03M | 0.11% | Jul 31, 2026 |
| Fidelity Growth Company Fund | 1,454,450 | 0.91% | $30.60M | 0.03% | May 31, 2026 |
| iShares Russell 2000 Value ETF | 1,302,420 | 0.81% | $33.50M | 0.23% | Jun 30, 2026 |
| T. Rowe Price Institutional Small-Cap Stock Fund | 1,274,515 | 0.80% | $32.78M | 0.65% | Jun 30, 2026 |
| T. Rowe Price Small-Cap Value Fund, Inc. | 1,251,030 | 0.78% | $32.18M | 0.30% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Ryan J. Watts | President and CEO, Director | 2,417,217 | 1.51% | Aug 14, 2026 |
| Peter Scott Chin | Chief Medical Officer | 204,538 | 0.13% | Sep 9, 2026 |
| Alexander O. Schuth | COFO and Secretary | 802,744 | 0.50% | Sep 3, 2026 |
| Carole Ho | Chief Medical Officer | 241,585 | 0.15% | Aug 14, 2025 |
| Nancy Thornberry | Director | 19,686 | 0.01% | Sep 4, 2026 |
| Bros. Advisors (GP) LLC Baker | Director | – | – | Jun 5, 2026 |
| Steve E. Krognes | Director | 819,999 | 0.51% | Jun 5, 2026 |
| Jennifer E. Cook | Director | 32,483 | 0.02% | Jun 5, 2026 |
| Jay T. Flatley | Director | 358,941 | 0.22% | Jun 5, 2026 |
| Peter S. Klein | Director | 33,941 | 0.02% | Jun 5, 2026 |
| Hauwermeiren Timothy Van | Director | 17,040 | 0.01% | Jun 5, 2026 |
| Bros. Advisors Lp Baker | Director | 3,415,958 | 2.14% | Jun 5, 2026 |
| Julian Baker | Director | – | – | Jun 5, 2026 |
| Felix Baker | Director | – | – | Jun 5, 2026 |
| Brothers Life Sciences LP Baker | Director | 3,422,366 | 2.14% | Jun 5, 2026 |
| David P. Schenkein | Director | 47,897 | 0.03% | Jun 5, 2026 |
| 667, L.P. | Director | – | – | Jun 5, 2026 |
| Marc Tessier-Lavigne | Director | 2,123,445 | 1.33% | Jun 5, 2025 |
| Vicki L. Sato | Director | 107,976 | 0.07% | Jan 3, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Peter Scott Chin Chief Medical Officer | Sep 4, 2026 | Sale | −1,654 | $22.29 | $36.87K | 204,538 |
| Nancy Thornberry Director | Sep 2, 2026 | Sale(10b5-1 plan) | −615 | $23.74 | $14.60K | 19,686 |
| Nancy Thornberry Director | Sep 2, 2026 | Sale(10b5-1 plan) | −10,824 | $22.85 | $247.33K | 20,301 |
| Alexander O. Schuth COFO and Secretary | Sep 1, 2026 | Sale(10b5-1 plan) | −2,768 | $23.44 | $64.88K | 278,995 |
| Ryan J. Watts President and CEO, Director | Aug 12, 2026 | Gift | −32,220 | – | – | 2,120,384 |
| Alexander O. Schuth COFO and Secretary | Aug 11, 2026 | Sale | −2,857 | $25.07 | $71.62K | 281,763 |
| Hauwermeiren Timothy Van Director | Jun 3, 2026 | Award | +6,408 | – | – | 17,040 |
| Jennifer E. Cook Director | Jun 3, 2026 | Award | +6,408 | – | – | 32,483 |
| Nancy Thornberry Director | Jun 3, 2026 | Award | +6,408 | – | – | 31,125 |
| Brothers Life Sciences LP Baker Director | Jun 3, 2026 | Award | +6,408 | – | – | 3,422,366 |
| Brothers Life Sciences LP Baker Director | Jun 3, 2026 | Award | +6,408 | – | – | 343,275 |
| David P. Schenkein Director | Jun 3, 2026 | Award | +6,408 | – | – | 21,665 |
| Jay T. Flatley Director | Jun 3, 2026 | Award | +6,408 | – | – | 22,628 |
| Steve E. Krognes Director | Jun 3, 2026 | Award | +6,408 | – | – | 38,202 |
| Peter S. Klein Director | Jun 3, 2026 | Award | +6,408 | – | – | 33,941 |
| Alexander O. Schuth COFO and Secretary | Jan 6, 2026 | Sale | −17,218 | $16.50 | $284.10K | 282,828 |
| Ryan J. Watts President and CEO, Director | Jan 6, 2026 | Sale | −35,198 | $16.50 | $580.77K | 296,833 |
| Ryan J. Watts President and CEO, Director | Jan 3, 2026 | Award | +78,960 | – | – | 332,031 |
| Alexander O. Schuth COFO and Secretary | Jan 3, 2026 | Award | +57,700 | – | – | 300,046 |
| Hauwermeiren Timothy Van Director | Nov 4, 2025 | Award | +10,632 | – | – | 10,632 |
| Ryan J. Watts President and CEO, Director | Sep 3, 2025 | Gift | −50,000 | – | – | 2,152,604 |
| Carole Ho Chief Medical Officer | Aug 13, 2025 | Sale(10b5-1 plan) | −806 | $14.64 | $11.80K | 216,585 |
| Carole Ho Chief Medical Officer | Aug 12, 2025 | Sale(10b5-1 plan) | −2,937 | $13.58 | $39.88K | 217,391 |
| Alexander O. Schuth COFO and Secretary | Aug 12, 2025 | Sale | −2,937 | $13.58 | $39.88K | 242,346 |
| Carole Ho Chief Medical Officer | Aug 5, 2025 | Option exercise | +44,655 | $0.68 | $30.37K | 220,328 |
| Ryan J. Watts President and CEO, Director | Jul 9, 2025 | Option exercise | +455,282 | $0.68 | $309.59K | 708,353 |
| Ryan J. Watts President and CEO, Director | Jul 9, 2025 | Sale(10b5-1 plan) | −495,282 | $15.00 | $7.43M | 253,071 |
| Ryan J. Watts President and CEO, Director | Jul 9, 2025 | Option exercise | +40,000 | $5.28 | $211.20K | 748,353 |
| Steve E. Krognes Director | Jun 3, 2025 | Award | +6,037 | – | – | 31,794 |
| Marc Tessier-Lavigne Director | Jun 3, 2025 | Award | +6,037 | – | – | 1,886,576 |
| Nancy Thornberry Director | Jun 3, 2025 | Award | +6,037 | – | – | 24,717 |
| Peter S. Klein Director | Jun 3, 2025 | Award | +6,037 | – | – | 27,533 |
| Jay T. Flatley Director | Jun 3, 2025 | Award | +6,037 | – | – | 16,220 |
| David P. Schenkein Director | Jun 3, 2025 | Award | +6,037 | – | – | 15,257 |
| Jennifer E. Cook Director | Jun 3, 2025 | Award | +6,037 | – | – | 26,075 |
| Bros. Advisors Lp Baker Director | Jun 3, 2025 | Award | +10,565 | – | – | 3,415,958 |
| Bros. Advisors Lp Baker Director | Jun 3, 2025 | Award | +10,565 | – | – | 336,867 |
| Carole Ho Chief Medical Officer | Jan 7, 2025 | Sale | −2,907 | $20.81 | $60.49K | 175,673 |
| Steve E. Krognes Director | Jan 7, 2025 | Sale | −3,339 | $20.81 | $69.48K | 25,757 |
| Alexander O. Schuth COFO and Secretary | Jan 7, 2025 | Sale | −2,907 | $20.81 | $60.49K | 244,308 |
| Ryan J. Watts President and CEO, Director | Jan 7, 2025 | Sale | −7,650 | $20.81 | $159.20K | 253,071 |
| Carole Ho Chief Medical Officer | Jan 6, 2025 | Sale | −12,255 | $20.22 | $247.80K | 178,580 |
| Alexander O. Schuth COFO and Secretary | Jan 6, 2025 | Sale | −12,255 | $20.22 | $247.80K | 247,215 |
| Ryan J. Watts President and CEO, Director | Jan 6, 2025 | Sale | −29,266 | $20.22 | $591.76K | 260,721 |
| Alexander O. Schuth COFO and Secretary | Jan 3, 2025 | Award | +54,180 | – | – | 259,470 |
| Carole Ho Chief Medical Officer | Jan 3, 2025 | Award | +54,180 | – | – | 190,835 |
| Ryan J. Watts President and CEO, Director | Jan 3, 2025 | Award | +54,180 | – | – | 289,987 |
| Vicki L. Sato Director | Jan 2, 2025 | Sale(10b5-1 plan) | −3,080 | $20.91 | $64.40K | 107,976 |
| Steve E. Krognes Director | Dec 31, 2024 | Sale(10b5-1 plan) | −30,000 | $20.25 | $607.50K | 29,096 |
| Alexander O. Schuth COFO and Secretary | Dec 27, 2024 | Option exercise | +6,708 | $5.28 | $35.42K | 205,290 |
| Carole Ho Chief Medical Officer | Nov 25, 2024 | Option exercise | +17,845 | $0.68 | $12.13K | 136,655 |
| Alexander O. Schuth COFO and Secretary | Nov 22, 2024 | Option exercise | +20,516 | $0.68 | $13.95K | 198,582 |
| David P. Schenkein Director | Nov 11, 2024 | Sale(10b5-1 plan) | −32,312 | $32.87 | $1.06M | 9,220 |
| David P. Schenkein Director | Nov 11, 2024 | Sale(10b5-1 plan) | −27,129 | $32.09 | $870.57K | 41,532 |
| David P. Schenkein Director | Nov 11, 2024 | Option exercise | +47,165 | $18.00 | $848.97K | 68,661 |
| Alexander O. Schuth COFO and Secretary | Nov 7, 2024 | Option exercise | +15,558 | $5.28 | $82.15K | 193,624 |
| Alexander O. Schuth COFO and Secretary | Nov 7, 2024 | Sale(10b5-1 plan) | −300 | $31.29 | $9.39K | 178,066 |
| Alexander O. Schuth COFO and Secretary | Nov 7, 2024 | Sale(10b5-1 plan) | −2,925 | $30.72 | $89.86K | 178,366 |
| Alexander O. Schuth COFO and Secretary | Nov 7, 2024 | Sale(10b5-1 plan) | −12,333 | $29.68 | $366.04K | 181,291 |
| Vicki L. Sato Director | Nov 7, 2024 | Sale(10b5-1 plan) | −1,020 | $30.00 | $30.60K | 111,056 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Peter Scott Chin Officer | Sep 4, 2026 | 1,654 | $36.87K | Sep 4, 2026 | Restricted Stock Lapse - See Remarks |
| Thornberry Nancy Director | Sep 2, 2026 | 11,439 | $266.13K | Sep 2, 2026 | Restricted Stock Units |
| Schuth Alexander Officer | Sep 1, 2026 | 2,768 | $65.77K | Sep 1, 2026 | Restricted Stock Units |
| Alexander O. Schuth Officer | Aug 11, 2026 | 2,857 | $71.62K | Aug 11, 2026 | Restricted Stock Lapse - See Remarks |
| Ho Carole Former Affiliate | Feb 5, 2026 | 39,490 | $801.39K | Feb 5, 2026 | Exercise of options under a registered plan |
| Ho Carole Former Affiliate | Feb 4, 2026 | 150,000 | $3.18M | Feb 4, 2026 | Exercise of options under a registered plan |
| Ho Carole Former Affiliate | Feb 3, 2026 | 150,000 | $3.32M | Feb 3, 2026 | Exercise of options under a registered plan |
| Ryan J. Watts Director, Officer | Jan 6, 2026 | 35,198 | $580.77K | Jan 6, 2026 | Restricted Stock Lapse - See Remarks |
| Alexander O. Schuth Officer | Jan 6, 2026 | 17,218 | $284.10K | Jan 6, 2026 | Restricted Stock Lapse - See Remarks |
| Carole Ho Consultant | Jan 6, 2026 | 17,218 | $284.10K | Jan 6, 2026 | Restricted Stock Lapse - See Remarks |
| Ho Carole Officer | Dec 4, 2025 | 1,882 | $35.76K | Dec 4, 2025 | Restricted Stock Units |
| Ho Carole Officer | Aug 13, 2025 | 806 | $10.66K | Aug 13, 2025 | Restricted Stock Units |
| Alexander O. Schuth Officer | Aug 12, 2025 | 2,937 | $39.88K | Aug 12, 2025 | Restricted Stock Lapse - See Remarks |
| Carole Ho Officer | Aug 12, 2025 | 2,937 | $39.88K | Aug 12, 2025 | Restricted Stock Lapse - See Remarks |
| Ryan J. Watts Officer | Jul 9, 2025 | 495,282 | $7.10M | Jul 9, 2025 | Stock Options Exercise |