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

Bank of New York Mellon Corp lessened its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,103,892 shares of the company’s stock after selling 139,095 shares during the period. Bank of New York Mellon Corp owned 0.76% of Denali Therapeutics worth $15,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in Denali Therapeutics during the 4th quarter worth approximately $532,000. SG Americas Securities LLC grew its stake in Denali Therapeutics by 339.6% during the 1st quarter. SG Americas Securities LLC now owns 48,365 shares of the company’s stock worth $658,000 after buying an additional 37,362 shares during the last quarter. Vanguard Group Inc. increased its position in Denali Therapeutics by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after buying an additional 843,996 shares during the period. Norges Bank bought a new stake in Denali Therapeutics during the 4th quarter valued at $21,717,000. Finally, Teacher Retirement System of Texas boosted its position in Denali Therapeutics by 18.6% during the 4th quarter. Teacher Retirement System of Texas now owns 38,178 shares of the company’s stock worth $778,000 after acquiring an additional 5,987 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wedbush cut their price objective on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald upgraded shares of Denali Therapeutics from a “neutral” rating to an “overweight” rating in a report on Thursday, April 10th. William Blair upgraded Denali Therapeutics to a “strong-buy” rating in a report on Thursday, April 24th. Bank of America lowered their price target on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Finally, HC Wainwright decreased their price objective on shares of Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $33.71.

Denali Therapeutics Stock Down 3.6%

Denali Therapeutics stock opened at $14.00 on Friday. The business’s 50-day simple moving average is $14.24 and its 200 day simple moving average is $16.36. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -5.24 and a beta of 1.33. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same quarter in the prior year, the company earned ($0.68) EPS. As a group, sell-side analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Activity

In other Denali Therapeutics news, CEO Ryan J. Watts sold 495,282 shares of the firm’s stock in a transaction 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. This trade represents a 66.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.50% of the company’s stock.

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.