Jorey Chernett Purchases 5,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 5,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $4.05 per share, for a total transaction of $20,250.00. Following the transaction, the insider owned 10,534,358 shares in the company, valued at approximately $42,664,149.90. This represents a 0.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, May 20th, Jorey Chernett acquired 33,500 shares of Oncology Institute stock. The stock was bought at an average price of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 30,000 shares of Oncology Institute stock. The stock was bought at an average price of $4.09 per share, for a total transaction of $122,700.00.
• On Thursday, April 9th, Jorey Chernett acquired 20,000 shares of Oncology Institute stock. The stock was bought at an average price of $3.10 per share, for a total transaction of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett acquired 125,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.11 per share, for a total transaction of $388,750.00.
• On Friday, March 20th, Jorey Chernett acquired 25,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.29 per share, for a total transaction of $200,640.65.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Trading Up 2.7%

Shares of TOI opened at $4.59 on Friday. The Oncology Institute, Inc. has a 12 month low of $2.02 and a 12 month high of $4.88. The stock’s 50 day moving average is $3.50 and its two-hundred day moving average is $3.33. The firm has a market cap of $453.68 million, a P/E ratio of -12.41 and a beta of 0.33.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. Equities research analysts forecast that The Oncology Institute, Inc. will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. B. Riley Financial raised their price objective on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. BTIG Research reissued a “buy” rating and issued a $7.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Hedge Funds Weigh In On Oncology Institute

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Oncology Institute by 36.6% in the first quarter. Bank of America Corp DE now owns 63,439 shares of the company’s stock valued at $195,000 after acquiring an additional 16,991 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Oncology Institute in the first quarter valued at approximately $154,000. Royal Bank of Canada lifted its position in shares of Oncology Institute by 335.9% in the first quarter. Royal Bank of Canada now owns 22,257 shares of the company’s stock valued at $68,000 after acquiring an additional 17,151 shares in the last quarter. FourWorld Capital Management LLC lifted its position in shares of Oncology Institute by 30.4% in the first quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company’s stock valued at $1,533,000 after acquiring an additional 116,496 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Oncology Institute by 25.1% in the first quarter. Renaissance Technologies LLC now owns 902,809 shares of the company’s stock valued at $2,772,000 after acquiring an additional 180,909 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.