Oncology Institute (NASDAQ:TOI) Trading Down 5.5% – Here’s What Happened

The Oncology Institute, Inc. (NASDAQ:TOI) was down 5.5% during mid-day trading on Wednesday . The stock traded as low as $5.88 and last traded at $5.9350. 431,818 shares traded hands during trading, a decline of 78% from the average daily volume of 1,928,562 shares. The stock had previously closed at $6.28.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Lake Street Capital initiated coverage on shares of Oncology Institute in a research note on Monday, July 6th. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. BTIG Research increased their price target on Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Needham & Company LLC lifted their price objective on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.40.

Oncology Institute Stock Performance

The business’s 50 day moving average price is $4.90 and its 200-day moving average price is $3.78. The firm has a market capitalization of $565.76 million, a PE ratio of -15.49 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. The firm had revenue of $147.44 million for the quarter, compared to analysts’ expectations of $142.10 million. As a group, analysts anticipate that The Oncology Institute, Inc. will post -0.17 earnings per share for the current year.

Insider Activity at Oncology Institute

In related news, insider Yale Podnos sold 23,451 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.38, for a total transaction of $126,166.38. Following the completion of the transaction, the insider directly owned 259,527 shares in the company, valued at $1,396,255.26. This trade represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohit Kaushal sold 38,433 shares of Oncology Institute stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the completion of the transaction, the director directly owned 172,583 shares of the company’s stock, valued at approximately $604,040.50. This represents a 18.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders bought 113,500 shares of company stock worth $514,405 in the last three months. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. LPL Financial LLC increased its stake in Oncology Institute by 1.5% during the 4th quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock worth $964,000 after buying an additional 3,900 shares during the period. AQR Capital Management LLC boosted its position in Oncology Institute by 9.1% in the 4th quarter. AQR Capital Management LLC now owns 48,072 shares of the company’s stock valued at $171,000 after buying an additional 4,007 shares during the period. HighTower Advisors LLC grew its stake in shares of Oncology Institute by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock worth $306,000 after acquiring an additional 4,489 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after acquiring an additional 4,545 shares in the last quarter. Finally, R Squared Ltd grew its stake in shares of Oncology Institute by 42.7% in the first quarter. R Squared Ltd now owns 16,353 shares of the company’s stock worth $50,000 after acquiring an additional 4,891 shares in the last quarter. Institutional investors and hedge funds own 36.86% of the company’s stock.

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.