Versor Investments LP Buys Shares of 49,800 American Well Co. (NYSE:AMWL)

Versor Investments LP bought a new stake in American Well Co. (NYSE:AMWLGet Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 49,800 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gagnon Securities LLC acquired a new position in shares of American Well in the 4th quarter worth approximately $62,000. Gagnon Advisors LLC purchased a new stake in American Well during the 4th quarter worth approximately $64,000. Nisa Investment Advisors LLC increased its stake in American Well by 440.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the company’s stock worth $34,000 after buying an additional 6,600 shares during the period. Vigilant Capital Management LLC purchased a new stake in shares of American Well in the 1st quarter valued at approximately $42,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of American Well in the 4th quarter valued at approximately $62,000. 43.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMWL has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on shares of American Well from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Thursday, June 23rd. Guggenheim initiated coverage on shares of American Well in a research note on Wednesday, April 13th. They set a “buy” rating and a $6.00 price target for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Insider Activity at American Well

In other American Well news, VP Bradford Gay sold 11,621 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.13, for a total transaction of $47,994.73. Following the completion of the transaction, the vice president now directly owns 859,187 shares in the company, valued at approximately $3,548,442.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Well news, VP Bradford Gay sold 11,621 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.13, for a total transaction of $47,994.73. Following the completion of the transaction, the vice president now directly owns 859,187 shares in the company, valued at approximately $3,548,442.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Phyllis Gotlib sold 13,750 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $3.57, for a total transaction of $49,087.50. Following the transaction, the insider now owns 509,285 shares of the company’s stock, valued at $1,818,147.45. The disclosure for this sale can be found here. Insiders sold 570,761 shares of company stock worth $2,475,666 over the last 90 days. Company insiders own 14.68% of the company’s stock.

American Well Stock Down 6.7 %

Shares of NYSE AMWL opened at $3.90 on Monday. American Well Co. has a 52 week low of $2.52 and a 52 week high of $11.89. The firm has a 50-day moving average price of $4.27 and a 200 day moving average price of $3.98. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.94 and a beta of 0.22.

American Well (NYSE:AMWLGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). American Well had a negative net margin of 79.91% and a negative return on equity of 16.72%. The company had revenue of $64.20 million during the quarter, compared to analyst estimates of $64.94 million. During the same quarter last year, the business earned ($0.16) EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts expect that American Well Co. will post -0.98 EPS for the current fiscal year.

American Well Company Profile

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American Well Corporation operates as a telehealth software company that enables digital delivery of care for healthcare. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings. Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; and musculoskeletal care.

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Institutional Ownership by Quarter for American Well (NYSE:AMWL)

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