Cubist Systematic Strategies LLC Acquires 181,715 Shares of American Well Co. (NYSE:AMWL)

Cubist Systematic Strategies LLC lifted its holdings in American Well Co. (NYSE:AMWL) by 7,673.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,083 shares of the company’s stock after buying an additional 181,715 shares during the period. Cubist Systematic Strategies LLC owned about 1.24% of American Well worth $60,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMWL. Oak Thistle LLC bought a new position in American Well during the 1st quarter valued at about $46,000. Vanguard Group Inc. grew its holdings in American Well by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after purchasing an additional 190,922 shares during the last quarter. Acadian Asset Management LLC grew its holdings in American Well by 193.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock valued at $1,687,000 after purchasing an additional 1,372,582 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in American Well during the 1st quarter valued at about $1,284,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in American Well by 75.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 289,318 shares of the company’s stock valued at $235,000 after purchasing an additional 124,441 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on AMWL shares. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a report on Tuesday, September 24th. Wells Fargo & Company dropped their target price on shares of American Well from $40.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th.

Insider Activity

In other news, insider Kathy Johnson Weiler sold 7,266 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $57,183.42. Following the transaction, the insider now directly owns 188,027 shares in the company, valued at approximately $1,479,772.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Robert Shepardson sold 5,177 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $889,247.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathy Johnson Weiler sold 7,266 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $57,183.42. Following the transaction, the insider now owns 188,027 shares in the company, valued at approximately $1,479,772.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,141 shares of company stock worth $178,729. Corporate insiders own 12.80% of the company’s stock.

American Well Price Performance

Shares of AMWL stock opened at $10.28 on Thursday. The company has a market capitalization of $152.38 million, a P/E ratio of -0.42 and a beta of 1.05. The company’s 50-day simple moving average is $9.02 and its two-hundred day simple moving average is $9.27. American Well Co. has a one year low of $5.00 and a one year high of $31.60.

American Well (NYSE:AMWL) last issued its earnings results on Wednesday, July 31st. The company reported ($3.36) EPS for the quarter, topping analysts’ consensus estimates of ($3.94) by $0.58. The business had revenue of $62.79 million for the quarter, compared to the consensus estimate of $60.78 million. American Well had a negative net margin of 120.44% and a negative return on equity of 50.36%. During the same period in the prior year, the firm earned ($4.60) EPS. On average, research analysts expect that American Well Co. will post -13.46 EPS for the current fiscal year.

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.