Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Purchases 18,000 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were acquired at an average price of $5.27 per share, for a total transaction of $94,860.00. Following the completion of the transaction, the insider owned 10,648,858 shares in the company, valued at $56,119,481.66. This trade represents a 0.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, July 10th, Jorey Chernett purchased 15,000 shares of Oncology Institute stock. The stock was acquired at an average price of $5.85 per share, with a total value of $87,750.00.
• On Tuesday, June 23rd, Jorey Chernett purchased 18,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $5.02 per share, with a total value of $90,360.00.
• On Thursday, June 4th, Jorey Chernett purchased 12,000 shares of Oncology Institute stock. The shares were acquired at an average price of $4.75 per share, for a total transaction of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett acquired 33,500 shares of Oncology Institute stock. The stock was acquired at an average cost of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 5,000 shares of Oncology Institute stock. The stock was bought at an average price of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 30,000 shares of Oncology Institute stock. The shares were bought at an average cost of $4.09 per share, with a total value of $122,700.00.

Oncology Institute Stock Down 4.6%

Shares of NASDAQ:TOI opened at $4.95 on Wednesday. The firm has a market cap of $489.26 million, a P/E ratio of -13.38 and a beta of 0.36. The Oncology Institute, Inc. has a 12-month low of $2.32 and a 12-month high of $6.67. The business has a fifty day simple moving average of $5.15 and a 200 day simple moving average of $3.89.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. As a group, equities research analysts expect that The Oncology Institute, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

TOI has been the subject of several analyst reports. Needham & Company LLC raised their price target on shares of Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. BTIG Research upped their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Lake Street Capital initiated coverage on shares of Oncology Institute in a research report on Monday, July 6th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research note on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oncology Institute currently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Institutional Investors Weigh In On Oncology Institute

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in shares of Oncology Institute during the fourth quarter valued at about $31,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Oncology Institute in the 4th quarter valued at about $36,000. Cetera Investment Advisers increased its position in Oncology Institute by 35.0% in the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after buying an additional 4,545 shares in the last quarter. State of Wyoming acquired a new position in Oncology Institute during the 2nd quarter worth approximately $37,000. Finally, R Squared Ltd acquired a new position in Oncology Institute during the 4th quarter worth approximately $41,000. 36.86% of the stock is currently 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.