Jane Street Group LLC Sells 893,308 Shares of American Well Co. (NYSE:AMWL)

Jane Street Group LLC reduced its position in American Well Co. (NYSE:AMWL) by 98.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,798 shares of the company’s stock after selling 893,308 shares during the quarter. Jane Street Group LLC owned approximately 0.10% of American Well worth $150,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMWL. Cubist Systematic Strategies LLC lifted its holdings in shares of American Well by 7,673.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock worth $60,000 after acquiring an additional 181,715 shares during the period. AQR Capital Management LLC raised its position in American Well by 28.1% in the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company’s stock worth $616,000 after purchasing an additional 416,387 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in American Well in the third quarter worth about $95,000. HighTower Advisors LLC acquired a new position in American Well in the third quarter worth about $355,000. Finally, PDT Partners LLC acquired a new position in American Well in the third quarter worth about $107,000. 56.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMWL has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, October 31st. Morgan Stanley dropped 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 report on Tuesday, December 17th. Finally, Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Monday.

American Well Trading Up 18.4 %

NYSE AMWL opened at $8.55 on Tuesday. The firm has a market cap of $130.99 million, a price-to-earnings ratio of -0.58 and a beta of 1.11. The company has a 50 day moving average of $8.40 and a 200-day moving average of $8.65. American Well Co. has a 1-year low of $5.00 and a 1-year high of $29.00.

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.