Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Purchases 18,000 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 18,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was bought at an average price of $5.02 per share, with a total value of $90,360.00. Following the completion of the acquisition, the insider owned 10,615,858 shares in the company, valued at $53,291,607.16. This represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, June 4th, Jorey Chernett purchased 12,000 shares of Oncology Institute stock. The shares were bought at an average price of $4.75 per share, for a total transaction of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett purchased 33,500 shares of Oncology Institute stock. The shares were bought at an average price of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett purchased 5,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.05 per share, for a total transaction of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett acquired 30,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.09 per share, with a total value of $122,700.00.
• On Thursday, April 9th, Jorey Chernett acquired 20,000 shares of Oncology Institute stock. The shares were purchased at an average price of $3.10 per share, with a total value of $62,000.00.

Oncology Institute Trading Up 4.4%

Oncology Institute stock opened at $5.25 on Thursday. The company has a 50-day moving average price of $4.31 and a 200 day moving average price of $3.57. The Oncology Institute, Inc. has a 12-month low of $2.02 and a 12-month high of $5.57. The stock has a market cap of $518.91 million, a P/E ratio of -14.19 and a beta of 0.37.

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 the consensus estimate of ($0.07) by $0.05. The firm had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. As a group, analysts forecast that The Oncology Institute, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Oncology Institute

Several large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new stake in Oncology Institute in the 1st quarter valued at approximately $131,000. Geode Capital Management LLC boosted its position in shares of Oncology Institute by 231.7% during the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after buying an additional 893,696 shares during the period. Cetera Investment Advisers boosted its position in shares of Oncology Institute by 35.0% during 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 during the period. JPMorgan Chase & Co. grew its stake in shares of Oncology Institute by 51,631.5% in the second quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company’s stock valued at $57,000 after buying an additional 27,881 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Oncology Institute in the second quarter valued at $92,000. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TOI shares. BTIG Research increased their price objective on Oncology Institute from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Needham & Company LLC lifted their target price on Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Finally, B. Riley Financial increased their price target on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Four research 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, the stock has an average rating of “Moderate Buy” and an average price target of $7.75.

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.