Granahan Investment Management LLC raised its stake in American Well Co. (NYSE:AMWL – Get Rating) by 19.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,687,504 shares of the company's stock after acquiring an additional 272,049 shares during the quarter. Granahan Investment Management LLC owned approximately 0.64% of American Well worth $7,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in American Well by 13.0% in the first quarter. Baillie Gifford & Co. now owns 699,561 shares of the company's stock valued at $2,946,000 after acquiring an additional 80,283 shares during the last quarter. Principal Financial Group Inc. boosted its stake in American Well by 166.3% in the fourth quarter. Principal Financial Group Inc. now owns 41,170 shares of the company's stock valued at $248,000 after acquiring an additional 25,710 shares during the last quarter. Rock Point Advisors LLC boosted its stake in American Well by 185.8% in the first quarter. Rock Point Advisors LLC now owns 1,376,628 shares of the company's stock valued at $5,796,000 after acquiring an additional 894,953 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in American Well in the first quarter valued at about $67,000. Finally, Lombard Odier Asset Management Switzerland SA lifted its stake in shares of American Well by 9.2% during the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 1,674,678 shares of the company's stock valued at $10,115,000 after buying an additional 141,650 shares in the last quarter. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

American Well Trading Down 0.9 %

American Well stock opened at $4.33 on Friday. The firm's 50 day simple moving average is $4.55 and its 200 day simple moving average is $4.04. The firm has a market capitalization of $1.18 billion, a PE ratio of -4.87 and a beta of -0.06. American Well Co. has a 1-year low of $2.52 and a 1-year high of $11.40.

Insider Transactions at American Well

In other news, CEO Ido Schoenberg sold 136,472 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $4.61, for a total value of $629,135.92. Following the transaction, the chief executive officer now owns 2,373,108 shares of the company's stock, valued at approximately $10,940,027.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ido Schoenberg sold 136,472 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $4.61, for a total transaction of $629,135.92. Following the transaction, the chief executive officer now owns 2,373,108 shares of the company's stock, valued at approximately $10,940,027.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bradford Gay sold 11,653 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $4.37, for a total transaction of $50,923.61. Following the transaction, the vice president now directly owns 810,276 shares in the company, valued at approximately $3,540,906.12. The disclosure for this sale can be found here. Insiders have sold 522,904 shares of company stock valued at $2,324,802 in the last quarter. Insiders own 13.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial assumed coverage on shares of American Well in a research note on Wednesday. They set a "hold" rating and a $5.00 price target on the stock. Piper Sandler dropped their price target on shares of American Well from $6.00 to $5.00 in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $8.50.

American Well 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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