Traders Buy Large Volume of Call Options on Oncology Institute (NASDAQ:TOI)

The Oncology Institute, Inc. (NASDAQ:TOI) saw some unusual options trading activity on Thursday. Stock traders bought 25,717 call options on the company. This represents an increase of 2,397% compared to the typical volume of 1,030 call options.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TOI shares. B. Riley Financial boosted their price target on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Needham & Company LLC upped 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Lake Street Capital initiated coverage on shares of Oncology Institute in a research report on Monday. They set a “buy” rating and a $10.00 price objective on the stock. Finally, BTIG Research lifted their target price on shares of Oncology Institute from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Oncology Institute currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.20.

Oncology Institute Trading Up 3.5%

Shares of TOI stock traded up $0.20 during trading hours on Thursday, reaching $5.84. 1,091,306 shares of the stock were exchanged, compared to its average volume of 1,898,188. The company’s 50-day moving average price is $4.72 and its 200-day moving average price is $3.71. Oncology Institute has a 12-month low of $2.32 and a 12-month high of $6.11. The firm has a market capitalization of $577.72 million, a price-to-earnings ratio of -15.80 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $142.10 million. On average, sell-side analysts expect that Oncology Institute will post -0.17 EPS for the current year.

Insider Activity at Oncology Institute

In other Oncology Institute news, Director Mohit Kaushal sold 38,433 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the completion of the transaction, the director owned 172,583 shares of the company’s stock, valued at $604,040.50. The trade was a 18.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yale Podnos sold 23,451 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.38, for a total value of $126,166.38. Following the transaction, the insider directly owned 259,527 shares in the company, valued at approximately $1,396,255.26. This represents a 8.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have purchased 98,500 shares of company stock valued at $426,655 and have sold 119,170 shares valued at $461,183. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new position in shares of Oncology Institute during the fourth quarter worth $31,000. Pekin Hardy Strauss Inc. purchased a new stake in Oncology Institute in the 4th quarter worth approximately $36,000. R Squared Ltd acquired a new stake in shares of Oncology Institute during the 4th quarter worth approximately $41,000. Prelude Capital Management LLC acquired a new stake in Oncology Institute during the third quarter valued at $41,000. Finally, BNP Paribas Financial Markets increased its holdings in Oncology Institute by 141.0% in the third quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company’s stock valued at $42,000 after buying an additional 7,091 shares in the last quarter. 36.86% of the stock is owned by institutional investors and hedge funds.

Oncology Institute Company Profile

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.