Morgan Stanley Cuts American Well (NYSE:AMWL) Price Target to $10.50

American Well (NYSE:AMWL) had its price target reduced by Morgan Stanley from $20.00 to $10.50 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

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

American Well Stock Performance

AMWL stock opened at $7.84 on Tuesday. The firm has a 50 day simple moving average of $9.19 and a 200 day simple moving average of $8.67. American Well has a 52 week low of $5.00 and a 52 week high of $31.60. The stock has a market cap of $120.11 million, a P/E ratio of -0.54 and a beta of 1.07.

Institutional Trading of American Well

Several large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd lifted its stake in shares of 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 purchasing an additional 96,644 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position 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 worth $60,000 after buying an additional 181,715 shares during the last quarter. Cowen AND Company LLC bought a new stake in shares of American Well during the 2nd quarter worth about $81,000. BNP Paribas Financial Markets acquired a new position in shares of American Well during the 3rd quarter valued at about $95,000. Finally, PDT Partners LLC bought a new position in shares of American Well in the 3rd quarter valued at approximately $107,000. 56.05% of the stock is owned by institutional investors.

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.