Oncology Institute (NASDAQ:STLN) Posts Earnings Results, Misses Expectations By $0.06 EPS

Oncology Institute (NASDAQ:STLN) released its earnings results on Thursday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06), Zacks reports. The company had revenue of $169.77 million during the quarter.

Oncology Institute Trading Down 3.6%

NASDAQ:STLN traded down $0.25 on Thursday, reaching $6.69. The stock had a trading volume of 1,867,165 shares, compared to its average volume of 1,738,016. The stock’s 50-day moving average price is $6.48. The company has a market cap of $661.24 million, a PE ratio of -22.30 and a beta of 0.44. Oncology Institute has a 12-month low of $2.32 and a 12-month high of $7.13.

Insider Activity

In other Oncology Institute news, major shareholder Jorey Chernett bought 12,000 shares of the company’s 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 $69,722,011.32. The trade was a 0.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brad Hively sold 298,853 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.51, for a total value of $1,945,533.03. Following the completion of the transaction, the director owned 411,976 shares in the company, valued at approximately $2,681,963.76. This trade represents a 42.04% decrease in their position. 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. 4.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on STLN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a report on Tuesday. Needham & Company LLC raised their target price on shares of Oncology Institute from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, BTIG Research boosted their target price on shares of Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

About Oncology Institute

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals.

The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.