Northern Trust Corp Grows Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Northern Trust Corp grew its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,201,518 shares of the company's stock after buying an additional 115,876 shares during the period. Northern Trust Corp owned 0.83% of Denali Therapeutics worth $24,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of DNLI. Rhumbline Advisers increased its position in Denali Therapeutics by 0.3% during the fourth quarter. Rhumbline Advisers now owns 190,390 shares of the company's stock worth $3,880,000 after purchasing an additional 497 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 worth $77,000 after purchasing an additional 885 shares during the last quarter. Sterling Capital Management LLC increased its position in Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after purchasing an additional 1,516 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Denali Therapeutics by 0.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 208,521 shares of the company's stock worth $4,250,000 after purchasing an additional 1,702 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its position in Denali Therapeutics by 32.2% during the fourth quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock worth $204,000 after purchasing an additional 2,436 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Stock Down 2.7%

Denali Therapeutics stock traded down $0.38 during trading on Friday, reaching $13.78. The stock had a trading volume of 1,087,530 shares, compared to its average volume of 1,097,258. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The business has a 50 day moving average price of $14.11 and a 200 day moving average price of $19.55. The stock has a market cap of $2.00 billion, a PE ratio of -4.99 and a beta of 1.49.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.07). During the same period in the prior year, the firm posted ($0.68) EPS. On average, equities analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DNLI shares. Robert W. Baird cut their price objective on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Wedbush dropped their price target on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. B. Riley reiterated a "buy" rating and set a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Bank of America dropped their price target 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, March 10th. Finally, Morgan Stanley began coverage on shares of Denali Therapeutics in a research report on Friday, March 7th. They set an "overweight" rating and a $33.00 price target for the company. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $33.79.

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.