Wells Fargo & Company Upgrades American Well (NYSE:AMWL) to "Overweight"

Wells Fargo & Company upgraded shares of American Well (NYSE:AMWL - Free Report) from an equal weight rating to an overweight rating in a report issued on Monday morning, Marketbeat.com reports. The brokerage currently has $15.00 price target on the stock.

A number of other brokerages have also issued reports on AMWL. Morgan Stanley decreased their price target on American Well from $20.00 to $10.50 and set an "equal weight" rating on the stock in a research note on Tuesday, December 17th. Needham & Company LLC reissued a "hold" rating on shares of American Well in a research report on Thursday, October 31st.

American Well Price Performance

NYSE:AMWL traded up $1.33 during trading hours on Monday, reaching $8.55. 143,596 shares of the company traded hands, compared to its average volume of 53,799. American Well has a 1-year low of $5.00 and a 1-year high of $29.00. The stock has a market cap of $130.99 million, a P/E ratio of -0.58 and a beta of 1.11. The firm's 50-day moving average is $8.40 and its 200-day moving average is $8.65.

Institutional Investors Weigh In On American Well

Several large investors have recently made changes to their positions in the business. HighTower Advisors LLC purchased a new position in shares of American Well in the third quarter valued at $355,000. PDT Partners LLC purchased a new position in American Well in the 3rd quarter valued at about $107,000. Walleye Capital LLC acquired a new stake in shares of American Well during the third quarter valued at about $167,000. BNP Paribas Financial Markets purchased a new stake in shares of American Well during the third quarter worth about $95,000. Finally, Point72 DIFC Ltd lifted its stake in shares of American Well by 1,418.5% in the second quarter. Point72 DIFC Ltd now owns 103,457 shares of the company's stock worth $34,000 after acquiring an additional 96,644 shares in 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.