Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 13.4% during the 2nd quarter, Holdings Channel reports. 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’s holdings in Denali Therapeutics were worth $35,765,000 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. Vanguard Group Inc. increased its stake in shares of Denali Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock valued at $225,069,000 after acquiring an additional 133,810 shares during the period. Capital Research Global Investors increased its position in shares of Denali Therapeutics by 107.9% during the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after purchasing an additional 3,140,429 shares during the period. Baker BROS. Advisors LP raised its stake in shares of Denali Therapeutics by 43.1% in the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after buying an additional 1,124,499 shares in the last quarter. Norges Bank acquired a new stake in shares of Denali Therapeutics in the fourth quarter valued at $24,736,000. Finally, Principal Financial Group Inc. boosted its stake in Denali Therapeutics by 4.5% during the first quarter. Principal Financial Group Inc. now owns 1,122,536 shares of the company’s stock valued at $23,034,000 after buying an additional 48,832 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Stock Performance

Shares of NASDAQ:DNLI opened at $24.44 on Tuesday. The firm has a 50 day simple moving average of $23.06 and a 200 day simple moving average of $20.59. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $25.90. The company 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 earnings results 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 firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $10.00 million. Denali Therapeutics’s revenue for the quarter was down 99.7% compared to the same quarter last year. During the same period last year, the firm earned $1.30 earnings per share. On average, equities analysts predict that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, 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 transaction of $31,682.34. Following the transaction, the director now owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the transaction, the director now directly owns 34,404 shares of the company’s stock, valued at $761,016.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on 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 owns 20,038 shares of the company’s stock, valued at $435,425.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,146 shares of company stock valued at $710,274. Corporate insiders own 7.90% of the company’s stock.

Analysts Set New Price Targets

DNLI has been the topic of several research reports. Stifel Nicolaus dropped their price target on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Citigroup boosted their target price on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a report on Thursday, August 15th. Wedbush decreased their price target 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. Finally, JPMorgan Chase & Co. increased their price objective on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.33.

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.