Bank of New York Mellon Corp Sells 87,364 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Bank of New York Mellon Corp lessened its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,242,987 shares of the company's stock after selling 87,364 shares during the period. Bank of New York Mellon Corp owned about 0.86% of Denali Therapeutics worth $25,332,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DNLI. Rhumbline Advisers lifted its position in shares of Denali Therapeutics by 0.3% in the 4th quarter. Rhumbline Advisers now owns 190,390 shares of the company's stock valued at $3,880,000 after acquiring an additional 497 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company's stock valued at $111,000 after purchasing an additional 580 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Denali Therapeutics in the third quarter worth $73,000. Pier Capital LLC grew its holdings in shares of Denali Therapeutics by 1.6% during the third quarter. Pier Capital LLC now owns 168,082 shares of the company's stock valued at $4,896,000 after buying an additional 2,596 shares in the last quarter. Finally, KBC Group NV raised its position in Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock valued at $129,000 after buying an additional 2,731 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Trading Down 6.7 %

Denali Therapeutics stock traded down $1.06 on Thursday, reaching $14.89. 378,049 shares of the stock were exchanged, compared to its average volume of 1,012,217. The stock has a market cap of $2.16 billion, a PE ratio of -5.39 and a beta of 1.46. The firm has a fifty day moving average price of $20.50 and a two-hundred day moving average price of $24.11. Denali Therapeutics Inc. has a twelve month low of $14.01 and a twelve month high of $33.33.

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Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.75) by $0.08. Equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Denali Therapeutics news, insider Carole Ho sold 12,255 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the completion of the transaction, the insider now owns 178,580 shares of the company's stock, valued at $3,610,887.60. This represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the sale, the director now directly owns 25,757 shares in the company, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,940 shares of company stock valued at $973,442. 7.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DNLI has been the subject of a number of research reports. HC Wainwright raised their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Morgan Stanley started coverage on shares of Denali Therapeutics in a research report on Friday, March 7th. They set an "overweight" rating and a $33.00 price objective on the stock. Bank of America cut their target price on shares of Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday. William Blair restated an "outperform" rating on shares of Denali Therapeutics in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price objective on Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.20.

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.