Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Buys $388,750.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 125,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were bought at an average price of $3.11 per share, for a total transaction of $388,750.00. Following the completion of the transaction, the insider directly owned 10,401,929 shares of the company’s stock, valued at $32,349,999.19. This represents a 1.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Friday, March 20th, Jorey Chernett purchased 25,000 shares of Oncology Institute stock. The stock was purchased at an average price of $3.35 per share, with a total value of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The shares were bought at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Price Performance

Oncology Institute stock opened at $2.96 on Friday. The stock has a market cap of $292.57 million, a P/E ratio of -5.29 and a beta of 0.14. The Oncology Institute, Inc. has a 1 year low of $0.97 and a 1 year high of $4.88. The firm’s 50 day moving average price is $2.91 and its 200-day moving average price is $3.38.

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

Hedge Funds Weigh In On Oncology Institute

Institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC purchased a new stake in Oncology Institute during the 2nd quarter valued at $25,000. Kestra Advisory Services LLC bought a new stake in Oncology Institute in the fourth quarter worth $31,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Oncology Institute during the second quarter worth $32,000. Pekin Hardy Strauss Inc. purchased a new position in Oncology Institute during the fourth quarter worth $36,000. Finally, Cetera Investment Advisers increased its position in Oncology Institute by 35.0% during the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after acquiring an additional 4,545 shares during the last quarter. Hedge funds and other institutional investors own 36.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. BTIG Research reaffirmed a “buy” rating and issued a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. B. Riley Financial boosted their target price on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Oncology Institute Company Profile

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.