Alliancebernstein L.P. Sells 161,255 Shares of Denali Therapeutics Inc. $DNLI

Alliancebernstein L.P. cut its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,154,387 shares of the company's stock after selling 161,255 shares during the period. Alliancebernstein L.P. owned 2.17% of Denali Therapeutics worth $42,884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Denali Therapeutics by 15.9% in the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock valued at $155,113,000 after purchasing an additional 1,561,647 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Denali Therapeutics by 42.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock valued at $59,373,000 after acquiring an additional 1,308,619 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Denali Therapeutics by 10.7% in the fourth quarter. Northern Trust Corp now owns 1,201,518 shares of the company's stock valued at $24,487,000 after acquiring an additional 115,876 shares in the last quarter. Candriam S.C.A. boosted its holdings in shares of Denali Therapeutics by 3.0% in the first quarter. Candriam S.C.A. now owns 858,162 shares of the company's stock valued at $11,667,000 after acquiring an additional 25,185 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in Denali Therapeutics by 88.9% during the first quarter. Aberdeen Group plc now owns 759,815 shares of the company's stock worth $10,330,000 after buying an additional 357,533 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 495,282 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total value of $7,429,230.00. Following the transaction, the chief executive officer directly owned 253,071 shares in the company, valued at $3,796,065. The trade was a 66.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carole Ho sold 2,937 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the transaction, the insider owned 217,391 shares in the company, valued at $2,952,169.78. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,962 shares of company stock worth $7,520,799 over the last ninety days. Corporate insiders own 12.50% of the company's stock.

Denali Therapeutics Stock Down 4.7%

NASDAQ:DNLI traded down $0.72 during trading hours on Wednesday, reaching $14.64. The company's stock had a trading volume of 1,672,597 shares, compared to its average volume of 1,956,278. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -5.23 and a beta of 1.23. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $33.33. The business's 50-day moving average is $14.60 and its 200-day moving average is $14.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.27 and a quick ratio of 10.27.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. Equities research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Analyst Ratings Changes

DNLI has been the subject of several research reports. TD Cowen raised Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Bank of America reduced their price objective on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Morgan Stanley decreased their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Denali Therapeutics in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Denali Therapeutics currently has a consensus rating of "Buy" and an average price target of $33.50.

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.