Oncology Institute (NASDAQ:TOI) Major Shareholder Acquires $256,500.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were purchased at an average cost of $3.42 per share, for a total transaction of $256,500.00. Following the completion of the transaction, the insider directly owned 10,251,929 shares in the company, valued at $35,061,597.18. The trade was a 0.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The shares were purchased at an average price of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Stock Up 5.3%

Shares of NASDAQ TOI traded up $0.18 during midday trading on Tuesday, hitting $3.59. The stock had a trading volume of 4,278,865 shares, compared to its average volume of 2,111,345. The business’s 50 day moving average is $2.99 and its 200-day moving average is $3.39. The company has a market cap of $353.18 million, a P/E ratio of -6.41 and a beta of 0.14. The Oncology Institute, Inc. has a 52 week low of $0.65 and a 52 week high of $4.88.

Oncology Institute (NASDAQ:TOI) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $141.96 million for the quarter, compared to analysts’ expectations of $139.78 million. Oncology Institute had a negative net margin of 11.45% and a negative return on equity of 1,527.21%.

Institutional Investors Weigh In On Oncology Institute

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mount Lucas Management LP purchased a new stake in Oncology Institute during the 2nd quarter valued at $158,000. CenterBook Partners LP lifted its holdings in shares of Oncology Institute by 277.8% during the 3rd quarter. CenterBook Partners LP now owns 2,704,650 shares of the company’s stock valued at $9,439,000 after buying an additional 1,988,751 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Oncology Institute by 89.8% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 119,000 shares of the company’s stock worth $244,000 after buying an additional 56,300 shares during the last quarter. FourWorld Capital Management LLC boosted its stake in shares of Oncology Institute by 52.4% in the 2nd quarter. FourWorld Capital Management LLC now owns 391,650 shares of the company’s stock worth $803,000 after buying an additional 134,650 shares during the last quarter. Finally, EHP Funds Inc. bought a new stake in shares of Oncology Institute in the third quarter worth $852,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TOI shares. B. Riley Financial lifted their target price on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Friday. BTIG Research reaffirmed a “buy” rating and set a $7.00 price target on shares of Oncology Institute in a report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Wednesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.00.

Oncology Institute Company Profile

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.