Sapient Capital LLC Purchases New Position in American Well Co. (NYSE:AMWL)

Sapient Capital LLC acquired a new position in shares of American Well Co. (NYSE:AMWL) during the first quarter, HoldingsChannel.com reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds also recently modified their holdings of AMWL. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well during the 4th quarter valued at about $564,000. Senvest Management LLC grew its position in American Well by 3.9% in the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock valued at $9,429,000 after acquiring an additional 48,800 shares in the last quarter. Norges Bank purchased a new stake in shares of American Well during the fourth quarter valued at approximately $204,000. Jane Street Group LLC lifted its position in shares of American Well by 21.9% during the fourth quarter. Jane Street Group LLC now owns 19,260 shares of the company’s stock worth $140,000 after purchasing an additional 3,462 shares in the last quarter. Finally, 4D Advisors LLC acquired a new position in shares of American Well during the fourth quarter worth $1,088,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Stock Performance

Shares of AMWL stock opened at $6.80 on Friday. The stock has a market capitalization of $106.07 million, a price-to-earnings ratio of -0.49 and a beta of 1.18. American Well Co. has a one year low of $5.00 and a one year high of $12.95. The company’s 50-day simple moving average is $7.15 and its 200-day simple moving average is $8.42.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.09) by $1.36. The firm had revenue of $66.83 million for the quarter, compared to analysts’ expectations of $60.15 million. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. As a group, research analysts forecast that American Well Co. will post -9.34 EPS for the current year.

Insider Activity at American Well

In other news, insider Phyllis Gotlib sold 4,782 shares of American Well stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.61, for a total value of $31,609.02. Following the completion of the transaction, the insider now directly owns 141,849 shares of the company’s stock, valued at approximately $937,621.89. The trade was a 3.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.82% of the company’s stock.

Analyst Upgrades and Downgrades

AMWL has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on shares of American Well from $12.00 to $7.50 and set a “hold” rating for the company in a report on Thursday, April 10th. Stifel Nicolaus cut their price target on American Well from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Piper Sandler reissued a “neutral” rating and issued a $8.00 price target (down previously from $10.00) on shares of American Well in a report on Friday, May 23rd. UBS Group dropped their price objective on American Well from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.67.

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.