Oncology Institute (NASDAQ:TOI) Major Shareholder Acquires $94,860.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 18,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was acquired at an average cost of $5.27 per share, with a total value of $94,860.00. Following the completion of the purchase, the insider owned 10,648,858 shares of the company’s stock, valued at approximately $56,119,481.66. This trade represents a 0.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, July 10th, Jorey Chernett purchased 15,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $5.85 per share, for a total transaction of $87,750.00.
• On Tuesday, June 23rd, Jorey Chernett purchased 18,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $5.02 per share, for a total transaction of $90,360.00.
• On Thursday, June 4th, Jorey Chernett acquired 12,000 shares of Oncology Institute stock. The shares were acquired at an average price of $4.75 per share, for a total transaction of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett bought 33,500 shares of Oncology Institute stock. The shares were acquired at an average cost of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 30,000 shares of Oncology Institute stock. The shares were bought at an average price of $4.09 per share, for a total transaction of $122,700.00.

Oncology Institute Stock Performance

Shares of TOI opened at $5.07 on Friday. The Oncology Institute, Inc. has a twelve month low of $2.32 and a twelve month high of $6.67. The firm’s 50 day moving average price is $5.18 and its two-hundred day moving average price is $3.90. The firm has a market cap of $501.12 million, a P/E ratio of -13.70 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last released its quarterly 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 company had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. On average, sell-side analysts anticipate that The Oncology Institute, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. LPL Financial LLC grew its position in Oncology Institute by 1.5% in the fourth quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock valued at $964,000 after purchasing an additional 3,900 shares in the last quarter. AQR Capital Management LLC increased its stake in Oncology Institute by 9.1% in the 4th 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 position in Oncology Institute by 5.5% during the 4th quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock worth $306,000 after buying an additional 4,489 shares in the last quarter. Cetera Investment Advisers lifted its position in Oncology Institute by 35.0% during the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after buying an additional 4,545 shares in the last quarter. Finally, R Squared Ltd boosted its stake 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 during the last quarter. Institutional investors and hedge funds own 36.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a report on Friday, July 17th. BTIG Research boosted their price target on Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC upped their price objective on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, Lake Street Capital started coverage on Oncology Institute in a report on Monday, July 6th. They set a “buy” rating and a $10.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Oncology Institute has a consensus rating of “Moderate Buy” and an average price target of $8.50.

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.