Oncology Institute (NASDAQ:TOI) Sets New 12-Month High – Here’s Why

Shares of The Oncology Institute, Inc. (NASDAQ:TOI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.82 and last traded at $5.5980, with a volume of 338200 shares traded. The stock had previously closed at $5.39.

Analyst Ratings Changes

A number of research firms have recently issued reports on TOI. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Needham & Company LLC lifted their target price 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. B. Riley Financial boosted their target price on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, BTIG Research upped their price target on Oncology Institute from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Oncology Institute currently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Oncology Institute Stock Performance

The company has a market capitalization of $542.14 million, a price-to-earnings ratio of -14.88 and a beta of 0.37. The firm has a 50-day simple moving average of $4.38 and a two-hundred day simple moving average of $3.60.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million. As a group, equities analysts forecast that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Oncology Institute

In other Oncology Institute news, major shareholder Jorey Chernett purchased 33,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $4.07 per share, for a total transaction of $136,345.00. Following the completion of the purchase, the insider directly owned 10,567,858 shares in the company, valued at approximately $43,011,182.06. The trade was a 0.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mohit Kaushal sold 57,286 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $3.50, for a total value of $200,501.00. Following the completion of the sale, the director owned 211,016 shares in the company, valued at approximately $738,556. The trade was a 21.35% 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. In the last 90 days, insiders acquired 118,500 shares of company stock valued at $488,655 and sold 119,170 shares valued at $461,183. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oncology Institute

A number of hedge funds have recently bought and sold shares of the stock. LPL Financial LLC increased its stake in shares of Oncology Institute by 1.5% during the fourth quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock worth $964,000 after buying an additional 3,900 shares during the period. AQR Capital Management LLC lifted its stake in Oncology Institute by 9.1% in the fourth quarter. AQR Capital Management LLC now owns 48,072 shares of the company’s stock worth $171,000 after acquiring an additional 4,007 shares during the last quarter. HighTower Advisors LLC grew its holdings in Oncology Institute by 5.5% during the 4th quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock worth $306,000 after acquiring an additional 4,489 shares in the last quarter. Cetera Investment Advisers grew its holdings in Oncology Institute by 35.0% during the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after acquiring an additional 4,545 shares in the last quarter. Finally, R Squared Ltd increased its position in shares of Oncology Institute by 42.7% in the 1st quarter. R Squared Ltd now owns 16,353 shares of the company’s stock valued at $50,000 after purchasing an additional 4,891 shares during the last quarter. Institutional investors and hedge funds 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.