American Well (NYSE:AMWL) Given New $10.50 Price Target at Morgan Stanley

American Well (NYSE:AMWL) had its target price dropped by research analysts at Morgan Stanley from $20.00 to $10.50 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 22.52% from the company’s current price.

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

American Well Stock Down 1.8 %

NYSE AMWL traded down $0.16 during trading hours on Tuesday, reaching $8.57. 18,437 shares of the company were exchanged, compared to its average volume of 103,857. American Well has a 1 year low of $5.00 and a 1 year high of $31.60. The business’s 50 day simple moving average is $9.31 and its 200-day simple moving average is $8.68. The stock has a market capitalization of $131.29 million, a P/E ratio of -0.59 and a beta of 1.07.

Hedge Funds Weigh In On American Well

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMWL. BNP Paribas Financial Markets bought a new position in shares of American Well in the third quarter valued at approximately $95,000. PDT Partners LLC bought a new position in shares of American Well in the third quarter valued at approximately $107,000. Walleye Capital LLC bought a new position in shares of American Well in the third quarter valued at approximately $167,000. HighTower Advisors LLC bought a new position in shares of American Well in the third quarter valued at approximately $355,000. Finally, Rock Point Advisors LLC boosted its position in shares of American Well by 1.9% in the second quarter. Rock Point Advisors LLC now owns 2,308,617 shares of the company’s stock valued at $750,000 after acquiring an additional 43,500 shares during the period. 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.