Oncology Institute (NASDAQ:STLN) Stock: Insider Jorey Chernett Sells 2,851,061 Shares

Oncology Institute, Inc. (NASDAQ:STLN) major shareholder Jorey Chernett sold 2,851,061 shares of Oncology Institute stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $3.99, for a total transaction of $11,375,733.39. Following the completion of the transaction, the insider directly owned 7,809,797 shares in the company, valued at approximately $31,161,090.03. The trade was a 26.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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 Monday, November 9th, Jorey Chernett acquired 48,294 shares of Oncology Institute stock. The shares were purchased at an average price of $3.65 per share, with a total value of $176,273.10.
• On Friday, August 14th, Jorey Chernett acquired 12,000 shares of Oncology Institute stock. The shares were purchased at an average price of $6.54 per share, with a total value of $78,480.00.

Oncology Institute Price Performance

NASDAQ:STLN opened at $4.20 on Thursday. Oncology Institute, Inc. has a 52 week low of $2.32 and a 52 week high of $7.13. The company’s 50 day moving average price is $6.32.

Oncology Institute (NASDAQ:STLN) last announced its earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $169.77 million for the quarter. As a group, equities analysts anticipate that Oncology Institute, Inc. will post -0.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on STLN. Lake Street Capital decreased their price target on Oncology Institute from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 6th. B. Riley Financial restated a “buy” rating and set a $10.00 price target (down from $11.00) on shares of Oncology Institute in a research note on Friday, November 6th. BTIG Research boosted their price target on Oncology Institute from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Needham & Company LLC upped their price objective on shares of Oncology Institute from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Tuesday, November 3rd. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.25.

Institutional Investors Weigh In On Oncology Institute

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp acquired a new position in shares of Oncology Institute in the 2nd quarter valued at $8,432,000. The Manufacturers Life Insurance Company acquired a new stake in Oncology Institute during the 2nd quarter worth about $111,000. WINTON GROUP Ltd acquired a new stake in Oncology Institute during the 2nd quarter worth about $102,000. Engineers Gate Manager LP purchased a new stake in Oncology Institute during the 2nd quarter valued at about $67,000. Finally, Squarepoint Ops LLC purchased a new stake in Oncology Institute during the 2nd quarter valued at about $396,000. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Oncology Institute Company Profile

The Oncology Institute is a physician-led provider of cancer care. Its services include medical oncology and hematology consultations, cancer treatment and infusion services, pharmacy support, and access to clinical trials. The company combines community-based clinics with care coordination and value-based care programs intended to support patients throughout treatment. It serves patients in several U.S. states, including California, Nevada, Arizona, and Florida. Founded in 2007, The Oncology Institute has expanded its network of oncology clinics and related services to provide cancer care closer to where patients live.