Jorey Chernett Purchases 263,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 263,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $2.92 per share, with a total value of $767,960.00. Following the acquisition, the insider owned 10,115,944 shares in the company, valued at approximately $29,538,556.48. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were bought at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The shares were bought at an average price of $3.29 per share, with a total value of $200,640.65.

Oncology Institute Trading Up 0.3%

Shares of NASDAQ:TOI opened at $3.60 on Thursday. The Oncology Institute, Inc. has a 12-month low of $0.83 and a 12-month high of $4.88. The company has a market capitalization of $354.17 million, a PE ratio of -6.43 and a beta of 0.14. The business has a 50 day moving average of $2.98 and a two-hundred day moving average of $3.39.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business 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 have recently bought and sold shares of TOI. Caitong International Asset Management Co. Ltd raised its holdings in shares of Oncology Institute by 585.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 22,466 shares of the company’s stock valued at $80,000 after acquiring an additional 19,190 shares during the last quarter. Josh Arnold Investment Consultant LLC boosted its stake in shares of Oncology Institute by 1,104.3% in the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock worth $8,757,000 after acquiring an additional 2,255,559 shares during the last quarter. Invesco Ltd. increased its position in shares of Oncology Institute by 21.8% during the fourth quarter. Invesco Ltd. now owns 47,012 shares of the company’s stock worth $167,000 after purchasing an additional 8,425 shares in the last quarter. Kanen Wealth Management LLC increased its position in shares of Oncology Institute by 61.6% during the fourth quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company’s stock worth $10,712,000 after purchasing an additional 1,134,043 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Oncology Institute in the 4th quarter valued at $166,000. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TOI. B. Riley Financial upped their price objective on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. BTIG Research restated a “buy” rating and set a $7.00 target price on shares of Oncology Institute in a research report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research note on Wednesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.