Bank of New York Mellon Corp Has $15.01 Million Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Bank of New York Mellon Corp reduced its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,103,892 shares of the company's stock after selling 139,095 shares during the quarter. Bank of New York Mellon Corp owned 0.76% of Denali Therapeutics worth $15,007,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DNLI. Vanguard Group Inc. boosted its stake in Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after purchasing an additional 843,996 shares during the period. FMR LLC increased its holdings in shares of Denali Therapeutics by 2.4% in the 4th quarter. FMR LLC now owns 8,019,746 shares of the company's stock valued at $163,442,000 after purchasing an additional 188,368 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Denali Therapeutics by 8.8% during the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company's stock valued at $67,573,000 after acquiring an additional 268,378 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Denali Therapeutics by 6.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company's stock valued at $62,335,000 after acquiring an additional 188,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Denali Therapeutics by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company's stock worth $37,805,000 after buying an additional 295,594 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on DNLI. HC Wainwright dropped their price objective on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Bank of America decreased their price objective on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a report on Monday, May 19th. Robert W. Baird reduced their price target on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Cantor Fitzgerald upgraded shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 10th. Finally, William Blair upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $33.71.

Insider Activity

In other news, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer owned 253,071 shares in the company, valued at approximately $3,796,065. This represents a 66.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.50% of the company's stock.

Denali Therapeutics Price Performance

Shares of DNLI stock traded up $0.60 on Wednesday, hitting $14.47. The company's stock had a trading volume of 1,570,926 shares, compared to its average volume of 1,146,871. Denali Therapeutics Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $33.33. The firm's fifty day moving average price is $14.21 and its 200-day moving average price is $16.26. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -5.42 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its earnings results 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 quarter in the previous year, the business posted ($0.68) EPS. Analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

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.