American Well (NYSE:AMWL) Rating Increased to Overweight at Wells Fargo & Company

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

AMWL has been the subject of a number of other research reports. Morgan Stanley decreased their price objective 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. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday, October 31st.

American Well Stock Performance

NYSE:AMWL opened at $8.55 on Monday. The firm’s fifty day moving average is $8.40 and its two-hundred day moving average is $8.65. The firm has a market cap of $130.99 million, a price-to-earnings ratio of -0.58 and a beta of 1.11. American Well has a one year low of $5.00 and a one year high of $29.00.

Hedge Funds Weigh In On American Well

A number of hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new stake in American Well during the 3rd quarter worth approximately $355,000. PDT Partners LLC acquired a new stake in American Well during the 3rd quarter worth approximately $107,000. Walleye Capital LLC acquired a new stake in American Well during the 3rd quarter worth approximately $167,000. BNP Paribas Financial Markets acquired a new stake in American Well during the 3rd quarter worth approximately $95,000. Finally, Point72 DIFC Ltd lifted its holdings in American Well by 1,418.5% during the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after buying an additional 96,644 shares in the last quarter. Hedge funds and other institutional investors own 56.05% of the company’s stock.

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.