PNC Financial Services Group Inc. Boosts Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

PNC Financial Services Group Inc. boosted its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI) by 30.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,790 shares of the company’s stock after acquiring an additional 885 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Denali Therapeutics were worth $77,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after buying an additional 903,683 shares in the last quarter. FMR LLC raised its holdings in shares of Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after purchasing an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after purchasing an additional 1,451,770 shares during the last quarter. Principal Financial Group Inc. grew its position in Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Denali Therapeutics by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,028,462 shares of the company’s stock valued at $20,960,000 after buying an additional 12,652 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

DNLI stock opened at $14.12 on Wednesday. The company has a market capitalization of $2.05 billion, a PE ratio of -5.12 and a beta of 1.46. The company’s fifty day moving average price is $19.50 and its 200-day moving average price is $23.46. Denali Therapeutics Inc. has a one year low of $14.01 and a one year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In related news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the transaction, the director now directly owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now directly owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 in the last quarter. 7.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DNLI has been the subject of several research analyst reports. Morgan Stanley started coverage on Denali Therapeutics in a report on Friday, March 7th. They issued an “overweight” rating and a $33.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price target for the company. Bank of America cut their target price on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 10th. B. Riley reiterated a “buy” rating and issued a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group reduced their price objective on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

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.