American Well (NYSE:AMWL) Raised to Overweight at Wells Fargo & Company

American Well (NYSE:AMWL) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $15.00 price objective on the stock. Wells Fargo & Company‘s price target points to a potential upside of 87.50% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley cut their target price on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Thursday, October 31st.

American Well Trading Down 6.8 %

AMWL stock opened at $8.00 on Monday. The firm’s 50-day moving average is $8.38 and its two-hundred day moving average is $8.66. The company has a market capitalization of $122.56 million, a price-to-earnings ratio of -0.55 and a beta of 1.11. American Well has a 52 week low of $5.00 and a 52 week high of $29.00.

Institutional Trading of American Well

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 2,665,300 shares during the last quarter. Acadian Asset Management LLC raised its holdings in American Well by 80.5% during the 2nd quarter. Acadian Asset Management LLC now owns 3,761,310 shares of the company’s stock worth $1,220,000 after buying an additional 1,677,505 shares during the period. AQR Capital Management LLC lifted its stake in American Well by 28.1% during the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company’s stock valued at $616,000 after buying an additional 416,387 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of American Well by 2,690.2% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock worth $136,000 after buying an additional 404,794 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of American Well by 7,673.8% in the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock worth $60,000 after acquiring an additional 181,715 shares in the last quarter. 56.05% of the stock is currently owned by institutional investors.

American Well Company Profile

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.