Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Acquires 60,985 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 60,985 shares of the stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of $3.29 per share, for a total transaction of $200,640.65. Following the acquisition, the insider owned 10,176,929 shares in the company, valued at $33,482,096.41. The trade was a 0.60% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 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 Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The stock was bought at an average price of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Trading Up 5.3%

Oncology Institute stock traded up $0.18 during trading hours on Tuesday, reaching $3.59. 4,278,865 shares of the company were exchanged, compared to its average volume of 2,111,345. The Oncology Institute, Inc. has a 12 month low of $0.65 and a 12 month high of $4.88. The stock has a 50-day moving average of $2.99 and a 200 day moving average of $3.39. The firm has a market cap of $353.18 million, a price-to-earnings ratio of -6.41 and a beta of 0.14.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Oncology Institute had a negative net margin of 11.45% and a negative return on equity of 1,527.21%. The company had revenue of $141.96 million for the quarter, compared to analyst estimates of $139.78 million.

Institutional Trading of Oncology Institute

A number of hedge funds have recently bought and sold shares of TOI. LPL Financial LLC grew its position in Oncology Institute by 1.5% in the 4th quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock worth $964,000 after purchasing an additional 3,900 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Oncology Institute by 9.1% during the fourth quarter. AQR Capital Management LLC now owns 48,072 shares of the company’s stock valued at $171,000 after buying an additional 4,007 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Oncology Institute by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock valued at $306,000 after buying an additional 4,489 shares during the period. Cetera Investment Advisers lifted its stake in shares of Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after buying an additional 4,545 shares during the period. Finally, Larson Financial Group LLC grew its position in Oncology Institute by 19.7% during the fourth quarter. Larson Financial Group LLC now owns 31,468 shares of the company’s stock worth $112,000 after buying an additional 5,181 shares in the last quarter. 36.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Wednesday, January 21st. BTIG Research reissued a “buy” rating and set a $7.00 price objective on shares of Oncology Institute in a research report on Monday, March 9th. B. Riley Financial raised their target price on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

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.