Oncology Institute (NASDAQ:STLN) Sees Strong Trading Volume Following Analyst Upgrade

Oncology Institute, Inc. (NASDAQ:STLN) shares saw unusually-strong trading volume on Friday after BTIG Research raised their price target on the stock from $9.00 to $10.00. BTIG Research currently has a buy rating on the stock. 1,820,317 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 1,733,065 shares. The stock last traded at $4.9590 and had previously closed at $6.70.

STLN has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research report on Tuesday. Needham & Company LLC raised their price target on Oncology Institute from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Insider Activity at Oncology Institute

In related news, Director Brad Hively sold 298,853 shares of Oncology Institute stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $6.51, for a total value of $1,945,533.03. Following the transaction, the director directly owned 411,976 shares of the company’s stock, valued at $2,681,963.76. This trade represents a 42.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $6.54 per share, for a total transaction of $78,480.00. Following the completion of the purchase, the insider directly owned 10,660,858 shares of the company’s stock, valued at $69,722,011.32. The trade was a 0.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oncology Institute

A number of large investors have recently modified their holdings of STLN. Legal & General Group Plc bought a new position in shares of Oncology Institute in the 2nd quarter valued at $41,000. Granite Investment Partners LLC acquired a new position in shares of Oncology Institute during the 1st quarter worth $46,000. R Squared Ltd raised its holdings in shares of Oncology Institute by 42.7% during the 1st quarter. R Squared Ltd now owns 16,353 shares of the company’s stock worth $50,000 after buying an additional 4,891 shares in the last quarter. AMG National Trust Bank bought a new stake in shares of Oncology Institute during the 2nd quarter worth $54,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Oncology Institute during the 2nd quarter worth $67,000. Institutional investors and hedge funds own 36.86% of the company’s stock.

Oncology Institute Stock Down 25.7%

The firm has a 50-day simple moving average of $6.49. The firm has a market cap of $491.83 million, a price-to-earnings ratio of -16.60 and a beta of 0.44.

Oncology Institute (NASDAQ:STLN) last released its earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $169.77 million during the quarter. On average, research analysts predict that Oncology Institute, Inc. will post -0.21 EPS for the current fiscal year.

Oncology Institute Company Profile

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals.

The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.