Manatuck Hill Partners LLC Makes New Investment in The Oncology Institute, Inc. $TOI

Manatuck Hill Partners LLC bought a new stake in The Oncology Institute, Inc. (NASDAQ:TOI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 450,000 shares of the company’s stock, valued at approximately $2,444,000.

Several other large investors have also modified their holdings of the business. Legal & General Group Plc purchased a new position in shares of Oncology Institute during the 2nd quarter worth $41,000. Kestra Advisory Services LLC purchased a new stake in Oncology Institute in the 4th quarter valued at about $31,000. Pekin Hardy Strauss Inc. acquired a new position in Oncology Institute in the fourth quarter valued at about $36,000. AMG National Trust Bank acquired a new position in Oncology Institute in the second quarter valued at about $54,000. Finally, R Squared Ltd purchased a new position in Oncology Institute during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 36.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TOI shares. Needham & Company LLC lifted their price target on shares of Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a report on Friday, July 17th. BTIG Research increased their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Lake Street Capital started coverage on shares of Oncology Institute in a research report on Monday, July 6th. They set a “buy” rating and a $10.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.50.

Insider Buying and Selling at Oncology Institute

In other news, major shareholder Jorey Chernett bought 18,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was purchased at an average price of $5.27 per share, for a total transaction of $94,860.00. Following the completion of the purchase, the insider owned 10,648,858 shares in the company, valued at approximately $56,119,481.66. This trade represents a 0.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yale Podnos sold 23,451 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $5.38, for a total value of $126,166.38. Following the completion of the sale, the insider owned 259,527 shares in the company, valued at approximately $1,396,255.26. This represents a 8.29% 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. Over the last ninety days, insiders have bought 63,000 shares of company stock valued at $329,970. Corporate insiders own 4.40% of the company’s stock.

Oncology Institute Stock Up 1.1%

Shares of TOI stock opened at $5.19 on Wednesday. The Oncology Institute, Inc. has a 52 week low of $2.32 and a 52 week high of $6.67. The stock has a market capitalization of $512.58 million, a PE ratio of -14.02 and a beta of 0.39. The firm has a 50 day moving average of $5.31 and a two-hundred day moving average of $4.15.

Oncology Institute (NASDAQ:TOI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $161.28 million during the quarter, compared to analyst estimates of $155.28 million. Analysts expect that The Oncology Institute, Inc. will post -0.18 EPS for the current fiscal year.

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.