Oncology Institute (NASDAQ:STLN) Price Target Raised to $9.00

Oncology Institute (NASDAQ:STLN) had its price target boosted by Needham & Company LLC from $7.00 to $9.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. BTIG Research increased their target price on Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Lake Street Capital initiated coverage on Oncology Institute in a report on Monday, July 6th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Weiss Ratings started coverage on Oncology Institute in a research report on Thursday, August 6th. They set a “sell (d-)” rating on the stock. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Oncology Institute Trading Down 6.9%

Shares of STLN stock opened at $6.43 on Wednesday. The company has a fifty day simple moving average of $6.41. Oncology Institute has a 52 week low of $2.32 and a 52 week high of $7.13.

Oncology Institute (NASDAQ:STLN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $161.28 million for the quarter, compared to analysts’ expectations of $152.80 million. On average, equities analysts expect that Oncology Institute will post -0.21 earnings per share for the current year.

Insider Activity at Oncology Institute

In other Oncology Institute news, major shareholder Jorey Chernett bought 18,000 shares of Oncology Institute stock in a transaction dated Tuesday, July 21st. The stock was bought at an average cost of $5.27 per share, for a total transaction of $94,860.00. Following the purchase, the insider owned 10,648,858 shares in the company, valued at $56,119,481.66. This represents a 0.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brad Hively sold 298,853 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $6.51, for a total transaction of $1,945,533.03. Following the sale, the director directly owned 411,976 shares of the company’s stock, valued at $2,681,963.76. The trade was a 42.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. R Squared Ltd increased its position in shares of Oncology Institute by 42.7% in the 1st quarter. R Squared Ltd now owns 16,353 shares of the company’s stock worth $50,000 after purchasing an additional 4,891 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Oncology Institute during the second quarter worth about $41,000. AMG National Trust Bank bought a new position in shares of Oncology Institute during the second quarter worth about $54,000. Engineers Gate Manager LP bought a new position in shares of Oncology Institute during the second quarter worth about $67,000. Finally, Fermata Advisors LLC acquired a new position in Oncology Institute in the second quarter worth about $70,000. 36.86% of the stock is currently owned by institutional investors.

About Oncology Institute

The Oncology Institute, Inc is a healthcare services company focused on providing specialized cancer care through community-based oncology practices. Its services generally include cancer diagnosis, treatment planning, chemotherapy and other infusion therapies, radiation referrals, supportive care, and ongoing monitoring for patients with cancer.

The company’s care model is designed to integrate oncologists, advanced practice providers, nurses, and other healthcare professionals while emphasizing coordinated and accessible treatment outside traditional hospital settings.