100,000 Shares in The Oncology Institute, Inc. $TOI Purchased by Panoramic Capital LLC

Panoramic Capital LLC bought a new position in shares of The Oncology Institute, Inc. (NASDAQ:TOI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $543,000. Panoramic Capital LLC owned 0.10% of Oncology Institute at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in shares of Oncology Institute during the 1st quarter valued at approximately $131,000. Geode Capital Management LLC increased its stake in Oncology Institute by 231.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock valued at $2,623,000 after purchasing an additional 893,696 shares in the last quarter. Cetera Investment Advisers raised its holdings in Oncology Institute by 35.0% during the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after purchasing an additional 4,545 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Oncology Institute by 51,631.5% during the second quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company’s stock worth $57,000 after purchasing an additional 27,881 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in Oncology Institute during the second quarter worth $92,000. 36.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Oncology Institute Stock Performance

Shares of NASDAQ:TOI opened at $5.19 on Thursday. The business’s fifty day moving average price is $5.31 and its two-hundred day moving average price is $4.17. The stock has a market cap of $512.58 million, a PE ratio of -14.02 and a beta of 0.39. The Oncology Institute, Inc. has a one year low of $2.32 and a one year high of $6.67.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $161.28 million during the quarter, compared to the consensus estimate of $155.28 million. As a group, equities research analysts predict that The Oncology Institute, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Oncology Institute

In other news, major shareholder Jorey Chernett bought 18,000 shares of Oncology Institute stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $5.02 per share, for a total transaction of $90,360.00. Following the acquisition, the insider owned 10,615,858 shares in the company, valued at approximately $53,291,607.16. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Yale Podnos sold 23,451 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.38, for a total transaction of $126,166.38. Following the sale, the insider directly owned 259,527 shares in the company, valued at $1,396,255.26. This represents a 8.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders acquired 63,000 shares of company stock worth $329,970. 4.40% of the stock is owned by insiders.

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.