Oncology Institute (NASDAQ:TOI) Shares Up 11.9% Following Insider Buying Activity

The Oncology Institute, Inc. (NASDAQ:TOI)’s share price traded up 11.9% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $5.49 and last traded at $5.4510. 493,754 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,878,680 shares. The stock had previously closed at $4.87.

Specifically, major shareholder Jorey Chernett purchased 12,000 shares of the stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $4.75 per share, with a total value of $57,000.00. Following the completion of the acquisition, the insider owned 10,579,858 shares in the company, valued at $50,254,325.50. The trade was a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several research firms have recently issued reports on TOI. BTIG Research upped their price objective on shares of Oncology Institute from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. B. Riley Financial upped their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Oncology Institute in a report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Oncology Institute Stock Up 12.2%

The stock has a market capitalization of $539.86 million, a PE ratio of -14.69 and a beta of 0.37. The firm has a 50 day moving average price of $3.78 and a 200-day moving average price of $3.39.

Oncology Institute (NASDAQ:TOI) last issued its 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 firm had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $142.10 million. Equities analysts expect that The Oncology Institute, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Oncology Institute

Several large investors have recently made changes to their positions in TOI. Kestra Advisory Services LLC acquired a new stake in shares of Oncology Institute in the fourth quarter worth $31,000. Pekin Hardy Strauss Inc. acquired a new position in Oncology Institute during the fourth quarter valued at $36,000. R Squared Ltd purchased a new stake in Oncology Institute in the fourth quarter valued at $41,000. Prelude Capital Management LLC purchased a new stake in Oncology Institute in the third quarter valued at $41,000. Finally, BNP Paribas Financial Markets grew its position in Oncology Institute by 141.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company’s stock worth $42,000 after purchasing an additional 7,091 shares during the period. 36.86% of the stock is owned by hedge funds and other institutional investors.

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.