PNC Financial Services Group Inc. Buys 885 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

PNC Financial Services Group Inc. increased its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 30.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,790 shares of the company’s stock after purchasing an additional 885 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Denali Therapeutics were worth $77,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. E Fund Management Co. Ltd. raised its holdings in shares of Denali Therapeutics by 32.2% in the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company’s stock valued at $204,000 after purchasing an additional 2,436 shares in the last quarter. Raymond James Financial Inc. bought a new position in Denali Therapeutics in the fourth quarter worth approximately $533,000. Proficio Capital Partners LLC purchased a new stake in Denali Therapeutics during the fourth quarter worth $514,000. Charles Schwab Investment Management Inc. boosted its position in Denali Therapeutics by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,028,462 shares of the company’s stock valued at $20,960,000 after acquiring an additional 12,652 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Denali Therapeutics by 44.8% in the 4th quarter. Fisher Asset Management LLC now owns 792,499 shares of the company’s stock valued at $16,151,000 after acquiring an additional 245,168 shares during the period. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Down 4.3 %

Shares of NASDAQ DNLI opened at $14.12 on Wednesday. Denali Therapeutics Inc. has a 52 week low of $14.01 and a 52 week high of $33.33. The business’s 50 day moving average price is $19.50 and its 200 day moving average price is $23.46. The firm has a market cap of $2.05 billion, a P/E ratio of -5.12 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.08. As a group, research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ryan J. Watts sold 29,266 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the transaction, the insider now directly owns 178,580 shares of the company’s stock, valued at $3,610,887.60. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,940 shares of company stock valued at $973,442. Company insiders own 7.90% of the company’s stock.

Wall Street Analyst Weigh In

DNLI has been the subject of a number of analyst reports. HC Wainwright upped their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Oppenheimer decreased their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, December 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

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.