State Street Corp Has $123.86 Million Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

State Street Corp trimmed its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 4.1% in the third quarter, HoldingsChannel.com reports. The firm owned 4,252,011 shares of the company’s stock after selling 182,779 shares during the period. State Street Corp’s holdings in Denali Therapeutics were worth $123,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC lifted its position in shares of Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after buying an additional 654 shares during the period. Quest Partners LLC bought a new position in shares of Denali Therapeutics during the third quarter valued at $73,000. Assetmark Inc. boosted its stake in shares of Denali Therapeutics by 18.0% in the 3rd 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. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after purchasing an additional 920 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Denali Therapeutics during the 2nd quarter worth about $194,000. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Price Performance

Shares of DNLI opened at $22.97 on Friday. The firm has a 50 day simple moving average of $26.28 and a two-hundred day simple moving average of $24.80. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $33.33. The company has a market cap of $3.31 billion, a P/E ratio of -8.32 and a beta of 1.35.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the prior year, the business earned ($0.72) earnings per share. On average, analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. The trade was a 14.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This represents a 50.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Bank of America increased their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research report on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

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.