Wellington Management Group LLP Lowers Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Wellington Management Group LLP reduced its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,847,951 shares of the company’s stock after selling 879,499 shares during the quarter. Wellington Management Group LLP owned about 0.07% of Denali Therapeutics worth $200,701,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in shares of Denali Therapeutics during the fourth quarter valued at $514,000. JPMorgan Chase & Co. grew its holdings in Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after acquiring an additional 14,324 shares in the last quarter. Principal Financial Group Inc. increased its position in Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after purchasing an additional 149,939 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Denali Therapeutics in the 3rd quarter valued at about $792,000. Finally, Barclays PLC lifted its position in shares of Denali Therapeutics by 101.4% in the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock worth $7,454,000 after purchasing an additional 128,823 shares during the period. 92.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DNLI. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, December 16th. Finally, Bank of America lowered their price target on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Insider Buying and Selling

In other Denali Therapeutics news, 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 value of $591,758.52. Following the sale, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the transaction, the director now owns 25,757 shares of the company’s stock, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,860 shares of company stock worth $909,039. 7.90% of the stock is owned by company insiders.

Denali Therapeutics Price Performance

NASDAQ DNLI opened at $13.74 on Thursday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -4.98 and a beta of 1.58. The stock’s fifty day moving average price is $18.48 and its 200 day moving average price is $22.91. Denali Therapeutics Inc. has a 1 year low of $12.05 and a 1 year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. Research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

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.