Oncology Institute (NASDAQ:STLN) Reaches New 52-Week High – Here’s What Happened

Oncology Institute, Inc. (NASDAQ:STLN)’s share price reached a new 52-week high on Friday . The company traded as high as $7.13 and last traded at $7.0080, with a volume of 421735 shares. The stock had previously closed at $6.63.

Wall Street Analysts Forecast Growth

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

Oncology Institute Stock Performance

The firm has a market cap of $683.97 million, a P/E ratio of -23.04 and a beta of 0.41.

Oncology Institute (NASDAQ:STLN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) EPS for the quarter. The business had revenue of $161.28 million during the quarter, compared to the consensus estimate of $152.80 million. On average, equities analysts expect that Oncology Institute, Inc. will post -0.21 EPS for the current year.

Insider Transactions at Oncology Institute

In other Oncology Institute news, major shareholder Jorey Chernett purchased 12,000 shares of Oncology Institute stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $6.54 per share, with a total value of $78,480.00. Following the completion of the transaction, the insider owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. This trade represents a 0.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brad Hively sold 298,853 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $6.51, for a total transaction of $1,945,533.03. Following the completion of the transaction, the director directly owned 411,976 shares of the company’s stock, valued at $2,681,963.76. The trade was a 42.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders purchased 63,000 shares of company stock valued at $351,450. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Oncology Institute during the second quarter worth $25,787,000. CenterBook Partners LP raised its position in shares of Oncology Institute by 12.0% during the 4th quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock worth $10,784,000 after purchasing an additional 324,662 shares during the last quarter. Josh Arnold Investment Consultant LLC lifted its stake in Oncology Institute by 1,104.3% in the 4th quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock valued at $8,757,000 after buying an additional 2,255,559 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Oncology Institute by 25.1% in the 1st quarter. Renaissance Technologies LLC now owns 902,809 shares of the company’s stock valued at $2,772,000 after buying an additional 180,909 shares in the last quarter. Finally, FourWorld Capital Management LLC boosted its holdings in Oncology Institute by 30.4% in the 1st quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company’s stock worth $1,533,000 after buying an additional 116,496 shares during the last quarter. 36.86% of the stock is owned by institutional investors and hedge funds.

Oncology Institute Company Profile

The Oncology Institute, Inc is a healthcare services company focused on delivering value-based cancer care. The company works with oncologists, health plans and other healthcare organizations to coordinate treatment and manage the costs of oncology services while emphasizing quality, access and patient outcomes.

Its services include medical oncology and hematology care, cancer diagnosis and treatment planning, chemotherapy and infusion services, supportive care, clinical research and care-management programs.