Wellington Management Group LLP Reduces Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Wellington Management Group LLP cut its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,847,951 shares of the company's stock after selling 879,499 shares during the quarter. Wellington Management Group LLP owned approximately 6.78% of Denali Therapeutics worth $200,701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after purchasing an additional 885 shares during the period. KBC Group NV lifted its position in shares of Denali Therapeutics by 75.8% during the 4th 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 last quarter. AlphaQuest LLC grew its stake in shares of Denali Therapeutics by 177.1% during the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock worth $142,000 after acquiring an additional 4,449 shares during the period. E Fund Management Co. Ltd. grew its stake in shares of Denali Therapeutics by 32.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock worth $204,000 after acquiring an additional 2,436 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Denali Therapeutics by 128.8% in the 4th quarter. SG Americas Securities LLC now owns 11,003 shares of the company's stock worth $224,000 after acquiring an additional 6,195 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

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Denali Therapeutics Trading Down 1.5 %

Shares of DNLI traded down $0.18 during midday trading on Monday, reaching $11.60. The stock had a trading volume of 1,709,607 shares, compared to its average volume of 1,062,573. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.20 and a beta of 1.58. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $33.33. The company's 50-day moving average is $17.83 and its 200 day moving average is $22.46.

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

Insider Buying and Selling

In other Denali Therapeutics news, 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 transaction, the director now directly owns 25,757 shares of the company's stock, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DNLI shares. The Goldman Sachs Group cut their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Baird R W upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They set a "buy" rating and a $31.00 target price on the stock. Morgan Stanley began coverage on Denali Therapeutics in a research report on Friday, March 7th. They issued an "overweight" rating and a $33.00 price target for the company. Finally, William Blair reissued an "outperform" rating on shares of Denali Therapeutics in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics presently 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.