Bank of New York Mellon Corp Decreases Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Bank of New York Mellon Corp cut its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 13.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,540,271 shares of the company’s stock after selling 237,636 shares during the period. Bank of New York Mellon Corp owned approximately 1.08% of Denali Therapeutics worth $35,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in DNLI. CWM LLC grew its holdings in Denali Therapeutics by 216.7% in the 4th quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $43,000 after buying an additional 1,376 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Denali Therapeutics by 27.0% in the fourth quarter. Victory Capital Management Inc. now owns 15,348 shares of the company’s stock valued at $329,000 after purchasing an additional 3,267 shares during the period. Fisher Asset Management LLC acquired a new stake in Denali Therapeutics during the fourth quarter worth about $59,000. Charles Schwab Investment Management Inc. raised its stake in Denali Therapeutics by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,006,997 shares of the company’s stock worth $21,610,000 after purchasing an additional 25,938 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in Denali Therapeutics by 46.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 17,290 shares of the company’s stock valued at $371,000 after purchasing an additional 5,509 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

DNLI has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Thursday, August 15th. Citigroup raised their target price on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Stifel Nicolaus cut their price objective on Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, Wedbush decreased their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the sale, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer E. Cook sold 1,458 shares of Denali Therapeutics stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.73, for a total value of $31,682.34. Following the sale, the director now directly owns 20,038 shares of the company’s stock, valued at $435,425.74. The disclosure for this sale can be found here. Insiders sold 32,146 shares of company stock worth $710,274 in the last 90 days. Corporate insiders own 7.90% of the company’s stock.

Denali Therapeutics Trading Up 0.2 %

NASDAQ:DNLI opened at $24.44 on Tuesday. The stock has a fifty day moving average price of $23.06 and a 200 day moving average price of $20.59. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $25.90. The firm has a market cap of $3.50 billion, a PE ratio of -25.46 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $10.00 million. The business’s quarterly revenue was down 99.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. Equities analysts forecast that Denali Therapeutics Inc. will post -2.54 EPS for the current year.

About Denali Therapeutics

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.