Jorey Chernett Buys 33,500 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 33,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $4.07 per share, for a total transaction of $136,345.00. Following the acquisition, the insider owned 10,567,858 shares of the company’s stock, valued at approximately $43,011,182.06. This represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Tuesday, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The shares were bought at an average cost of $4.05 per share, for a total transaction of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 30,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.09 per share, for a total transaction of $122,700.00.
• On Thursday, April 9th, Jorey Chernett bought 20,000 shares of Oncology Institute stock. The stock was purchased at an average price of $3.10 per share, with a total value of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett purchased 125,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.11 per share, with a total value of $388,750.00.
• On Friday, March 20th, Jorey Chernett purchased 25,000 shares of Oncology Institute stock. The shares were purchased at an average price of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The stock was purchased at an average price of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Stock Up 2.7%

Shares of NASDAQ TOI opened at $4.59 on Friday. The Oncology Institute, Inc. has a 52 week low of $2.02 and a 52 week high of $4.88. The business’s 50 day moving average price is $3.50 and its 200 day moving average price is $3.33. The firm has a market cap of $453.68 million, a P/E ratio of -12.41 and a beta of 0.33.

Oncology Institute (NASDAQ:TOI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to analysts’ expectations of $142.10 million. As a group, research analysts expect that The Oncology Institute, Inc. will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TOI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of Oncology Institute in a research note on Monday, March 9th. BTIG Research reaffirmed a “buy” rating and set a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Finally, B. Riley Financial boosted their price target on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Oncology Institute currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Hedge Funds Weigh In On Oncology Institute

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Josh Arnold Investment Consultant LLC increased its stake in shares of Oncology Institute by 1,104.3% during the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock worth $8,757,000 after purchasing an additional 2,255,559 shares in the last quarter. CenterBook Partners LP lifted its stake in Oncology Institute by 277.8% in the 3rd quarter. CenterBook Partners LP now owns 2,704,650 shares of the company’s stock valued at $9,439,000 after buying an additional 1,988,751 shares in the last quarter. Kanen Wealth Management LLC acquired a new stake in Oncology Institute in the 3rd quarter worth about $6,421,000. Marshall Wace LLP purchased a new stake in Oncology Institute during the 2nd quarter worth approximately $3,028,000. Finally, Geode Capital Management LLC raised its holdings in shares of Oncology Institute by 231.7% during the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock valued at $2,623,000 after acquiring an additional 893,696 shares during the last quarter. 36.86% of the stock is owned by hedge funds and other institutional investors.

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.