HighTower Advisors LLC Buys Shares of 37,467 American Well Co. (NYSE:AMWL)

HighTower Advisors LLC purchased a new stake in American Well Co. (NYSE:AMWL) in the third quarter, HoldingsChannel reports. The firm purchased 37,467 shares of the company’s stock, valued at approximately $355,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd grew its stake in American Well by 1,418.5% in the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock valued at $34,000 after acquiring an additional 96,644 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of American Well by 7,673.8% in the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after purchasing an additional 181,715 shares in the last quarter. Cowen AND Company LLC acquired a new stake in shares of American Well in the second quarter valued at approximately $81,000. BNP Paribas Financial Markets purchased a new position in shares of American Well during the 3rd quarter worth approximately $95,000. Finally, PDT Partners LLC acquired a new position in shares of American Well during the 3rd quarter worth approximately $107,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AMWL shares. Morgan Stanley lowered their target price on American Well from $20.00 to $10.50 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research note on Thursday, October 31st.

American Well Stock Performance

Shares of AMWL opened at $7.87 on Monday. American Well Co. has a 1 year low of $5.00 and a 1 year high of $31.60. The company’s 50 day simple moving average is $9.14 and its 200 day simple moving average is $8.67. The company has a market capitalization of $120.57 million, a price-to-earnings ratio of -0.54 and a beta of 1.07.

American Well 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.