Northern Trust Corp Has $15.39 Million Position in Denali Therapeutics Inc. $DNLI

Key Points

• Northern Trust Corp has reduced its stake in Denali Therapeutics by 5.8%, now holding approximately 1.13 million shares valued at $15.39 million.
• Insider selling is notable, with CEO Ryan J. Watts selling 495,282 shares for approximately $7.43 million, reflecting a 66.18% decrease in his ownership.
• Denali Therapeutics has seen varied analyst ratings, with Bank of America and TD Cowen issuing recent downgrades and upgrades, establishing a consensus rating of "Buy".

Northern Trust Corp cut its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,132,173 shares of the company's stock after selling 69,345 shares during the period. Northern Trust Corp owned about 0.78% of Denali Therapeutics worth $15,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Denali Therapeutics in the 4th quarter valued at $533,000. First Trust Advisors LP increased its holdings in shares of Denali Therapeutics by 260.9% in the fourth quarter. First Trust Advisors LP now owns 65,442 shares of the company's stock worth $1,334,000 after acquiring an additional 47,308 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Denali Therapeutics by 24.2% during the fourth quarter. Hsbc Holdings PLC now owns 33,390 shares of the company's stock worth $680,000 after purchasing an additional 6,507 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Denali Therapeutics by 0.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 208,521 shares of the company's stock valued at $4,250,000 after purchasing an additional 1,702 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Denali Therapeutics by 126.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,743 shares of the company's stock valued at $341,000 after purchasing an additional 9,343 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Insider Buying and Selling

In other Denali Therapeutics news, CEO Ryan J. Watts sold 495,282 shares of the company'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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carole Ho sold 2,937 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the transaction, the insider directly 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. In the last three months, insiders have sold 501,962 shares of company stock valued at $7,520,799. 12.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on DNLI. Bank of America lowered their target price 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. TD Cowen raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Robert W. Baird cut their price objective 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. HC Wainwright reduced their target price on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Wedbush dropped their price target on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $33.62.

Denali Therapeutics Stock Performance

DNLI opened at $15.45 on Wednesday. The firm has a market capitalization of $2.26 billion, a PE ratio of -5.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The business's 50-day simple moving average is $14.50 and its 200 day simple moving average is $14.74.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same quarter last year, the company earned ($0.59) EPS. As a group, sell-side analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share 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.

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