American Well (NYSE:AMWL) Given New $10.50 Price Target at Morgan Stanley

American Well (NYSE:AMWL) had its target price cut by Morgan Stanley from $20.00 to $10.50 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of American Well in a research note on Thursday, October 31st.

American Well Stock Down 3.4 %

AMWL stock opened at $8.44 on Tuesday. American Well has a twelve month low of $5.00 and a twelve month high of $31.60. The firm has a market cap of $129.22 million, a PE ratio of -0.58 and a beta of 1.07. The business has a 50 day moving average of $9.28 and a 200 day moving average of $8.68.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMWL. Renaissance Technologies LLC increased its holdings in American Well by 63.9% during the second quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company’s stock valued at $2,220,000 after buying an additional 2,665,300 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of American Well by 80.5% in the 2nd quarter. Acadian Asset Management LLC now owns 3,761,310 shares of the company’s stock worth $1,220,000 after purchasing an additional 1,677,505 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of American Well by 28.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company’s stock worth $616,000 after purchasing an additional 416,387 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in American Well by 2,690.2% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock worth $136,000 after purchasing an additional 404,794 shares during the period. Finally, Cowen AND Company LLC purchased a new position in American Well during the second quarter valued at $81,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

About American Well

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.