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

Bank of New York Mellon Corp trimmed its holdings in shares of 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 Securities and Exchange Commission. The fund owned 1,103,892 shares of the company's stock after selling 139,095 shares during the period. Bank of New York Mellon Corp owned approximately 0.76% of Denali Therapeutics worth $15,007,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Denali Therapeutics by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after buying an additional 843,996 shares in the last quarter. FMR LLC increased its stake in Denali Therapeutics by 2.4% during the fourth quarter. FMR LLC now owns 8,019,746 shares of the company's stock worth $163,442,000 after acquiring an additional 188,368 shares during the last quarter. Alliancebernstein L.P. increased its stake in Denali Therapeutics by 8.8% during the fourth quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company's stock worth $67,573,000 after acquiring an additional 268,378 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Denali Therapeutics by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company's stock worth $62,335,000 after acquiring an additional 188,820 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 295,594 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI traded up $0.16 during trading hours on Tuesday, hitting $13.99. 433,128 shares of the stock were exchanged, compared to its average volume of 1,148,152. The company's 50 day moving average is $14.24 and its 200 day moving average is $16.32. The firm has a market capitalization of $2.03 billion, a P/E ratio of -5.24 and a beta of 1.33. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly 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 period in the prior year, the business posted ($0.68) EPS. Research analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 495,282 shares of the business's 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 sale, the chief executive officer owned 253,071 shares of the company's stock, valued at $3,796,065. The trade was a 66.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DNLI. William Blair raised Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. Cantor Fitzgerald upgraded Denali Therapeutics from a "neutral" rating to an "overweight" rating in a report on Thursday, April 10th. Wedbush decreased their price objective on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. HC Wainwright decreased their price objective on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Robert W. Baird reduced their target price on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. One 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's stock. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of "Buy" and an average price target of $33.71.

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.