American Well (NYSE:AMWL) Insider Sells $78,931.80 in Stock

American Well Corporation (NYSE:AMWL) insider Dmitry Zamansky sold 8,460 shares of American Well stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total transaction of $78,931.80. Following the sale, the insider owned 232,620 shares in the company, valued at $2,170,344.60. This represents a 3.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

American Well Stock Performance

Shares of AMWL stock traded up $0.28 during mid-day trading on Wednesday, reaching $9.40. The company’s stock had a trading volume of 95,615 shares, compared to its average volume of 87,135. American Well Corporation has a 1-year low of $3.71 and a 1-year high of $9.96. The company has a market cap of $155.55 million, a P/E ratio of -1.73 and a beta of 1.69. The firm’s 50-day moving average is $7.98 and its two-hundred day moving average is $6.13.

American Well (NYSE:AMWL) last issued its earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.11. The business had revenue of $54.88 million for the quarter, compared to analyst estimates of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. Sell-side analysts anticipate that American Well Corporation will post -2.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMWL. TD Cowen lifted their price objective on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Truist Financial set a $7.50 target price on American Well in a report on Monday, June 8th. Morgan Stanley raised their target price on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, American Well has a consensus rating of “Hold” and an average price target of $7.20.

Institutional Investors Weigh In On American Well

A number of hedge funds have recently made changes to their positions in AMWL. Headlands Technologies LLC acquired a new position in American Well in the second quarter valued at about $39,000. Engineers Gate Manager LP acquired a new stake in shares of American Well during the second quarter worth approximately $101,000. Prelude Capital Management LLC bought a new position in shares of American Well in the third quarter valued at approximately $86,000. JPMorgan Chase & Co. boosted its holdings in shares of American Well by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock worth $131,000 after acquiring an additional 2,081 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of American Well in the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.