Bank of America Corp DE Cuts Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Bank of America Corp DE lessened its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,333 shares of the company's stock after selling 77,831 shares during the quarter. Bank of America Corp DE owned about 0.19% of Denali Therapeutics worth $5,509,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Denali Therapeutics in the 4th quarter worth approximately $21,717,000. Vanguard Group Inc. increased its stake in shares of Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock valued at $244,993,000 after buying an additional 843,996 shares during the period. Dimensional Fund Advisors LP grew its stake in Denali Therapeutics by 19.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company's stock worth $37,805,000 after purchasing an additional 295,594 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Denali Therapeutics in the fourth quarter worth $5,891,000. Finally, Alliancebernstein L.P. grew its stake in Denali Therapeutics by 8.8% in the fourth quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company's stock worth $67,573,000 after purchasing an additional 268,378 shares during the period. Institutional investors own 92.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on DNLI. William Blair raised Denali Therapeutics to a "strong-buy" rating in a report on Thursday, April 24th. HC Wainwright reduced their price objective on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They issued a "buy" rating and a $31.00 price target for the company. Robert W. Baird reduced their price target on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Wedbush cut their target price on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $33.71.

Denali Therapeutics Trading Down 2.7%

Shares of DNLI stock traded down $0.36 on Friday, reaching $13.18. 1,205,593 shares of the company's stock were exchanged, compared to its average volume of 1,110,292. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33. The stock has a market capitalization of $1.91 billion, a PE ratio of -4.78 and a beta of 1.49. The company's fifty day simple moving average is $13.84 and its 200 day simple moving average is $18.45.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period in the prior year, the firm posted ($0.68) earnings per share. As a group, sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Denali Therapeutics Company 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.