Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Purchases 30,000 Shares

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 30,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $4.09 per share, for a total transaction of $122,700.00. Following the transaction, the insider owned 10,529,358 shares of the company’s stock, valued at approximately $43,065,074.22. This trade represents a 0.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, April 9th, Jorey Chernett acquired 20,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.10 per share, with a total value of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett acquired 125,000 shares of Oncology Institute stock. The stock was acquired at an average price of $3.11 per share, with a total value of $388,750.00.
• On Friday, March 20th, Jorey Chernett bought 25,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were bought at an average price 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 stock was bought at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett purchased 263,000 shares of Oncology Institute stock. The stock was bought at an average price of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Price Performance

TOI stock traded up $0.04 during mid-day trading on Wednesday, reaching $4.14. 851,220 shares of the company traded hands, compared to its average volume of 1,884,372. The company has a market capitalization of $408.70 million, a P/E ratio of -11.20 and a beta of 0.33. The Oncology Institute, Inc. has a 52-week low of $2.02 and a 52-week high of $4.88. The company has a fifty day moving average price of $3.40 and a 200-day moving average price of $3.33.

Oncology Institute (NASDAQ:TOI) last posted its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $147.44 million for the quarter, compared to analysts’ expectations of $142.10 million. As a group, analysts forecast that The Oncology Institute, Inc. will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. B. Riley Financial lifted their target price on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. BTIG Research reissued a “buy” rating and set a $7.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Oncology Institute presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TOI. Kestra Advisory Services LLC purchased a new position in shares of Oncology Institute during the fourth quarter worth about $31,000. Pekin Hardy Strauss Inc. purchased a new stake in Oncology Institute in the fourth quarter worth approximately $36,000. Cetera Investment Advisers boosted its stake in Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after buying an additional 4,545 shares in the last quarter. State of Wyoming purchased a new stake in Oncology Institute in the second quarter worth approximately $37,000. Finally, R Squared Ltd purchased a new stake in Oncology Institute in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.

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.