Bank of New York Mellon Corp Has $58.17 Million Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Bank of New York Mellon Corp increased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,895,292 shares of the company’s stock after acquiring an additional 27,162 shares during the quarter. Bank of New York Mellon Corp owned about 1.40% of Denali Therapeutics worth $58,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DNLI. JPMorgan Chase & Co. lifted its stake in shares of Denali Therapeutics by 17.1% in the first quarter. JPMorgan Chase & Co. now owns 97,372 shares of the company’s stock worth $3,133,000 after acquiring an additional 14,227 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Denali Therapeutics by 55.6% in the first quarter. MetLife Investment Management LLC now owns 50,392 shares of the company’s stock worth $1,621,000 after acquiring an additional 18,003 shares during the period. Rhumbline Advisers increased its holdings in Denali Therapeutics by 0.5% in the first quarter. Rhumbline Advisers now owns 97,145 shares of the company’s stock worth $3,125,000 after purchasing an additional 496 shares in the last quarter. BlackRock Inc. increased its holdings in Denali Therapeutics by 0.9% in the first quarter. BlackRock Inc. now owns 8,185,740 shares of the company’s stock worth $263,336,000 after purchasing an additional 74,918 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Denali Therapeutics by 13.7% in the first quarter. Dimensional Fund Advisors LP now owns 878,224 shares of the company’s stock worth $28,253,000 after purchasing an additional 106,027 shares in the last quarter. 67.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Carole Ho sold 2,913 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $28.69, for a total value of $83,573.97. Following the transaction, the insider now owns 175,500 shares of the company’s stock, valued at $5,035,095. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Ryan J. Watts sold 5,029 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $28.73, for a total transaction of $144,483.17. Following the transaction, the chief executive officer now owns 2,213,464 shares of the company’s stock, valued at approximately $63,592,820.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carole Ho sold 2,913 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $28.69, for a total value of $83,573.97. Following the transaction, the insider now directly owns 175,500 shares in the company, valued at approximately $5,035,095. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,020 shares of company stock valued at $2,689,975. Insiders own 12.70% of the company’s stock.

Denali Therapeutics Trading Down 6.3 %

DNLI stock opened at $24.14 on Friday. The stock’s fifty day simple moving average is $29.03 and its two-hundred day simple moving average is $29.44. Denali Therapeutics Inc. has a 1-year low of $20.24 and a 1-year high of $39.43. The stock has a market cap of $3.30 billion, a P/E ratio of -9.28 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI – Get Rating) last posted its quarterly earnings data on Monday, February 27th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.02. Denali Therapeutics had a negative return on equity of 35.67% and a negative net margin of 300.55%. The business had revenue of $10.28 million for the quarter, compared to analysts’ expectations of $11.29 million. During the same quarter in the previous year, the firm earned ($0.62) earnings per share. The business’s revenue was down 17.8% on a year-over-year basis. As a group, analysts forecast that Denali Therapeutics Inc. will post -3.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DNLI shares. Morgan Stanley lowered their target price on Denali Therapeutics from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, March 1st. Cowen initiated coverage on Denali Therapeutics in a report on Monday, December 5th. They set an “outperform” rating for the company. Oppenheimer decreased their price objective on Denali Therapeutics from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. HC Wainwright reaffirmed a “buy” rating and set a $105.00 target price on shares of Denali Therapeutics in a research report on Thursday, February 23rd. Finally, Stifel Nicolaus cut their target price on Denali Therapeutics from $36.00 to $32.00 in a research report on Thursday, March 2nd. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $54.58.

Denali Therapeutics Company Profile

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Denali Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates for neurodegenerative diseases. Its product pipeline includes LRRK2, RIPK1, TREM2, and Tau. The company was founded by Ryan J. Watts, Marc Tessier-Lavigne, and Alexander Schuth on October 14, 2013 and is headquartered in San Francisco, CA.