American Well (NYSE:AMWL) Upgraded to Overweight 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 issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has $15.00 target price on the stock.

Several other research firms have also weighed in on AMWL. Morgan Stanley reduced their target price on American Well from $20.00 to $10.50 and set an “equal weight” rating on the stock in a 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 Price Performance

Shares of NYSE:AMWL opened at $8.50 on Monday. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $29.00. The company has a market capitalization of $130.22 million, a price-to-earnings ratio of -0.58 and a beta of 1.11. The firm’s 50 day simple moving average is $8.38 and its 200 day simple moving average is $8.66.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of American Well in the 3rd quarter valued at about $95,000. PDT Partners LLC acquired a new stake in shares of American Well in the 3rd quarter valued at approximately $107,000. Walleye Capital LLC acquired a new position in American Well during the third quarter worth $167,000. HighTower Advisors LLC bought a new stake in American Well during the third quarter worth $355,000. Finally, Point72 DIFC Ltd lifted its stake in American Well by 1,418.5% in the second quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock valued at $34,000 after acquiring an additional 96,644 shares during the last quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

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.