American Well (NYSE:AMWL) Price Target Cut to $10.50 by Analysts at Morgan Stanley

American Well (NYSE:AMWL) had its price target decreased by Morgan Stanley from $20.00 to $10.50 in a report released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research report on Thursday, October 31st.

American Well Price Performance

Shares of NYSE AMWL opened at $8.44 on Tuesday. The stock has a market capitalization of $129.22 million, a P/E ratio of -0.58 and a beta of 1.07. American Well has a one year low of $5.00 and a one year high of $31.60. The firm’s 50 day simple moving average is $9.28 and its two-hundred day simple moving average is $8.68.

Hedge Funds Weigh In On American Well

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of American Well in the third quarter worth about $95,000. PDT Partners LLC bought a new stake in shares of American Well in the 3rd quarter worth approximately $107,000. Walleye Capital LLC purchased a new position in shares of American Well during the third quarter valued at approximately $167,000. HighTower Advisors LLC bought a new position in shares of American Well during the third quarter valued at approximately $355,000. Finally, Rock Point Advisors LLC lifted its stake in American Well by 1.9% in the second quarter. Rock Point Advisors LLC now owns 2,308,617 shares of the company’s stock worth $750,000 after acquiring an additional 43,500 shares during the period. Hedge funds and other institutional investors 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.