Insider Selling: Oncology Institute (NASDAQ:TOI) Insider Sells $126,166.38 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) insider Yale Podnos sold 23,451 shares of Oncology Institute stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.38, for a total transaction of $126,166.38. Following the sale, the insider directly owned 259,527 shares in the company, valued at $1,396,255.26. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Oncology Institute Trading Up 9.6%

Shares of TOI opened at $5.13 on Friday. The firm’s 50-day moving average price is $3.94 and its 200-day moving average price is $3.44. The firm has a market capitalization of $507.05 million, a price-to-earnings ratio of -13.86 and a beta of 0.37. The Oncology Institute, Inc. has a 1-year low of $2.02 and a 1-year high of $5.57.

Oncology Institute (NASDAQ:TOI) last announced 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 the consensus estimate of $142.10 million. On average, research analysts forecast that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Oncology Institute

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Oncology Institute by 6.2% during the third quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company’s stock worth $15,863,000 after acquiring an additional 264,358 shares in the last quarter. CenterBook Partners LP boosted its stake in Oncology Institute by 12.0% during the fourth quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock worth $10,784,000 after acquiring an additional 324,662 shares in the last quarter. Kanen Wealth Management LLC boosted its stake in 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 acquiring an additional 1,134,043 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Oncology Institute by 17.3% during the second quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock worth $5,163,000 after acquiring an additional 371,005 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC boosted its stake in Oncology Institute by 1,104.3% during 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 in the last quarter. Institutional investors own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. BTIG Research lifted their target price on shares of Oncology Institute from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Oncology Institute in a research note on Monday, March 9th. Finally, B. Riley Financial lifted their target price on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.25.

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.