Bank of New York Mellon Corp Invests $20.58 Million in Denali Therapeutics Inc. $DNLI

Key Points

• Bank of New York Mellon initiated a $20.58 million position in Denali Therapeutics, purchasing 800,283 shares, or roughly 0.5% of the company. Institutional investors collectively own 92.92% of DNLI.
• Analyst sentiment is broadly positive: 14 analysts rate the stock Buy, two rate it Hold and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $35.85.
• Denali reported a quarterly loss of $0.68 per share, worse than the $0.51 consensus estimate, though revenue of $3.60 million exceeded expectations of $2.15 million. The clinical-stage biotech develops treatments for neurodegenerative diseases, including Parkinson’s and Alzheimer’s.

Bank of New York Mellon Corp bought a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 800,283 shares of the company's stock, valued at approximately $20,583,000. Bank of New York Mellon Corp owned about 0.50% of Denali Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DNLI. Bank of America Corp DE boosted its holdings in shares of Denali Therapeutics by 21.7% in the first quarter. Bank of America Corp DE now owns 1,134,183 shares of the company's stock worth $21,776,000 after buying an additional 202,039 shares during the last quarter. E. Ohman J or Asset Management AB purchased a new stake in Denali Therapeutics during the second quarter valued at approximately $4,115,000. Sei Investments Co. bought a new position in Denali Therapeutics in the first quarter worth approximately $1,003,000. UBS Group AG raised its position in Denali Therapeutics by 19.5% in the fourth quarter. UBS Group AG now owns 2,404,704 shares of the company's stock worth $39,702,000 after acquiring an additional 392,351 shares during the period. Finally, Defilade Capital Management L.P. boosted its stake in shares of Denali Therapeutics by 107.1% during the 1st quarter. Defilade Capital Management L.P. now owns 1,359,969 shares of the company's stock worth $26,111,000 after acquiring an additional 703,256 shares during the last quarter. 92.92% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Alexander O. Schuth sold 2,857 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $25.07, for a total transaction of $71,624.99. Following the sale, the insider directly owned 281,763 shares in the company, valued at $7,063,798.41. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DNLI has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of Denali Therapeutics from $25.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wedbush reaffirmed an "outperform" rating and issued a $26.00 target price on shares of Denali Therapeutics in a report on Monday, July 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Denali Therapeutics in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Denali Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley lifted their target price on Denali Therapeutics from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.85.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $24.00 on Monday. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -8.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.37 and a quick ratio of 8.32. Denali Therapeutics Inc. has a 1 year low of $12.58 and a 1 year high of $27.30. The firm has a 50-day moving average of $24.62 and a two-hundred day moving average of $21.72.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The firm had revenue of $3.60 million for the quarter, compared to analysts' expectations of $2.15 million. During the same period in the previous year, the firm earned ($0.72) earnings per share. On average, research analysts forecast that Denali Therapeutics Inc. will post -2.67 earnings per share for the current year.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company's research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali's approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali's lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson's disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer's patients.

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