Oncology Institute (NASDAQ:STLN) Major Shareholder Acquires $176,273.10 in Stock

Oncology Institute, Inc. (NASDAQ:STLN) major shareholder Jorey Chernett acquired 48,294 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was acquired at an average price of $3.65 per share, for a total transaction of $176,273.10. Following the completion of the transaction, the insider owned 7,858,091 shares in the company, valued at approximately $28,682,032.15. The trade was a 0.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, November 6th, Jorey Chernett sold 2,851,061 shares of Oncology Institute stock. The shares were sold at an average price of $3.99, for a total value of $11,375,733.39.
• On Friday, August 14th, Jorey Chernett bought 12,000 shares of Oncology Institute stock. The shares were acquired at an average price of $6.54 per share, with a total value of $78,480.00.

Oncology Institute Stock Down 10.7%

Shares of STLN stock opened at $3.75 on Friday. The business has a fifty day simple moving average of $6.28. Oncology Institute, Inc. has a 52 week low of $2.32 and a 52 week high of $7.13.

Oncology Institute (NASDAQ:STLN) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $169.77 million for the quarter. Sell-side analysts anticipate that Oncology Institute, Inc. will post -0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Oncology Institute

A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in Oncology Institute during the second quarter valued at $41,000. AMG National Trust Bank purchased a new stake in shares of Oncology Institute in the 2nd quarter worth about $54,000. Engineers Gate Manager LP purchased a new stake in shares of Oncology Institute in the 2nd quarter worth about $67,000. Royal Bank of Canada grew its position in shares of Oncology Institute by 335.9% in the 1st quarter. Royal Bank of Canada now owns 22,257 shares of the company’s stock worth $68,000 after buying an additional 17,151 shares during the period. Finally, Fermata Advisors LLC bought a new position in shares of Oncology Institute in the 2nd quarter worth about $70,000. Institutional investors own 36.86% of the company’s stock.

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.