Oncology Institute (NASDAQ:TOI) Major Shareholder Buys $83,750.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $83,750.00. Following the acquisition, the insider owned 10,276,929 shares of the company’s stock, valued at $34,427,712.15. The trade was a 0.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The stock was acquired at an average price of $3.29 per share, for a total transaction of $200,640.65.
• On Friday, March 13th, Jorey Chernett purchased 263,000 shares of Oncology Institute stock. The stock was acquired at an average price of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Stock Performance

Shares of Oncology Institute stock traded down $0.05 on Monday, hitting $3.27. 710,293 shares of the company’s stock were exchanged, compared to its average volume of 2,124,538. The stock has a market capitalization of $323.21 million, a PE ratio of -5.83 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 company has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $3.39.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Oncology Institute

Several hedge funds have recently modified their holdings of TOI. Josh Arnold Investment Consultant LLC grew its stake in Oncology Institute by 1,104.3% during the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock valued at $8,757,000 after acquiring an additional 2,255,559 shares in the last quarter. CenterBook Partners LP grew its position in shares of Oncology Institute by 277.8% during the third quarter. CenterBook Partners LP now owns 2,704,650 shares of the company’s stock valued at $9,439,000 after purchasing an additional 1,988,751 shares in the last quarter. Kanen Wealth Management LLC bought a new stake in shares of Oncology Institute in the third quarter worth about $6,421,000. Marshall Wace LLP bought a new stake in shares of Oncology Institute in the second quarter worth about $3,028,000. Finally, Geode Capital Management LLC lifted its position in shares of Oncology Institute by 231.7% in the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after buying an additional 893,696 shares in the last quarter. Hedge funds and other institutional investors own 36.86% of the company’s stock.

About Oncology Institute

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.