American Well (NYSE:AMWL) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of American Well (NYSE:AMWL) from an equal weight rating to an overweight rating in a research note released on Monday morning, MarketBeat reports. They currently have $15.00 price target on the stock.

Several other analysts have also issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday, October 31st. Morgan Stanley cut their price target on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th.

American Well Trading Up 6.5 %

Shares of American Well stock opened at $8.50 on Monday. The firm has a fifty day simple moving average of $8.38 and a 200-day simple moving average of $8.66. The stock has a market capitalization of $130.22 million, a price-to-earnings ratio of -0.58 and a beta of 1.11. American Well has a 1-year low of $5.00 and a 1-year high of $29.00.

Institutional Trading of American Well

Several institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd grew its holdings in shares of American Well by 1,418.5% in the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after purchasing an additional 96,644 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in American Well by 7,673.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after purchasing an additional 181,715 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in American Well in the third quarter worth $95,000. PDT Partners LLC bought a new stake in shares of American Well during the third quarter worth $107,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake 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 valued at $136,000 after buying an additional 404,794 shares in the last quarter. Institutional investors and hedge funds 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.