Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Acquires $87,750.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 15,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average cost of $5.85 per share, with a total value of $87,750.00. Following the completion of the purchase, the insider owned 10,630,858 shares in the company, valued at $62,190,519.30. This represents a 0.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 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 Tuesday, June 23rd, Jorey Chernett purchased 18,000 shares of Oncology Institute stock. The stock was bought at an average cost of $5.02 per share, for a total transaction of $90,360.00.
• On Thursday, June 4th, Jorey Chernett purchased 12,000 shares of Oncology Institute stock. The stock was bought at an average price of $4.75 per share, with a total value of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett purchased 33,500 shares of Oncology Institute stock. The stock was bought at an average price of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 5,000 shares of Oncology Institute stock. The shares were bought at an average cost of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett acquired 30,000 shares of Oncology Institute stock. The shares were bought at an average price of $4.09 per share, for a total transaction of $122,700.00.

Oncology Institute Trading Down 9.9%

TOI opened at $5.66 on Thursday. The stock has a market capitalization of $559.43 million, a P/E ratio of -15.30 and a beta of 0.36. The Oncology Institute, Inc. has a 12 month low of $2.32 and a 12 month high of $6.67. The firm’s fifty day simple moving average is $4.94 and its 200 day simple moving average is $3.80.

Oncology Institute (NASDAQ:TOI) last announced its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. On average, equities research analysts predict that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TOI has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Needham & Company LLC upped their price target on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Lake Street Capital initiated coverage on shares of Oncology Institute in a research note on Monday, July 6th. They set a “buy” rating and a $10.00 price target for the company. Finally, BTIG Research lifted their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.40.

Institutional Trading of Oncology Institute

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Oncology Institute by 6.2% in the third quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company’s stock valued at $15,863,000 after purchasing an additional 264,358 shares in the last quarter. CenterBook Partners LP increased its position in shares of Oncology Institute by 12.0% during the 4th quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock worth $10,784,000 after purchasing an additional 324,662 shares during the last quarter. Kanen Wealth Management LLC raised its stake in shares of Oncology Institute by 61.6% during the 4th 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. Balyasny Asset Management L.P. raised its stake in shares of Oncology Institute by 17.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock worth $5,163,000 after purchasing an additional 371,005 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC boosted its holdings in shares of Oncology Institute by 1,104.3% in the 4th quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock valued at $8,757,000 after buying an additional 2,255,559 shares during the last quarter. Institutional investors own 36.86% of the company’s stock.

About Oncology Institute

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.