State Street Corp Sells 949,827 Shares of American Well Co. (NYSE:AMWL)

State Street Corp lowered its position in shares of American Well Co. (NYSE:AMWL - Free Report) by 95.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,464 shares of the company's stock after selling 949,827 shares during the period. State Street Corp owned 0.30% of American Well worth $431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC bought a new position in American Well in the 3rd quarter worth about $355,000. PDT Partners LLC purchased a new position in shares of American Well during the third quarter worth about $107,000. Walleye Capital LLC bought a new position in shares of American Well in the third quarter worth approximately $167,000. BNP Paribas Financial Markets bought a new position in shares of American Well in the third quarter worth approximately $95,000. Finally, Point72 DIFC Ltd raised 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 purchasing an additional 96,644 shares in the last quarter. Institutional investors own 56.05% of the company's stock.

American Well Stock Performance

NYSE:AMWL traded up $0.44 during mid-day trading on Friday, reaching $7.48. The stock had a trading volume of 31,496 shares, compared to its average volume of 41,248. American Well Co. has a one year low of $5.00 and a one year high of $29.00. The stock has a market capitalization of $114.59 million, a P/E ratio of -0.51 and a beta of 1.07. The firm has a 50 day moving average price of $8.62 and a two-hundred day moving average price of $8.64.

Wall Street Analyst Weigh In

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

American Well 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.