Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Purchases 263,000 Shares

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 263,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $2.92 per share, with a total value of $767,960.00. Following the purchase, the insider directly owned 10,115,944 shares of the company’s stock, valued at approximately $29,538,556.48. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The shares were acquired 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 acquired at an average price of $3.29 per share, with a total value of $200,640.65.

Oncology Institute Trading Up 5.3%

NASDAQ:TOI traded up $0.18 during mid-day trading on Tuesday, reaching $3.59. The company’s stock had a trading volume of 4,278,865 shares, compared to its average volume of 2,111,345. The Oncology Institute, Inc. has a 12-month low of $0.65 and a 12-month high of $4.88. The firm’s fifty day moving average price is $2.99 and its two-hundred day moving average price is $3.39. The stock has a market cap of $353.18 million, a P/E ratio of -6.41 and a beta of 0.14.

Oncology Institute (NASDAQ:TOI) last posted its earnings results on Thursday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $141.96 million for the quarter, compared to analysts’ expectations of $139.78 million. Oncology Institute had a negative net margin of 11.45% and a negative return on equity of 1,527.21%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of Oncology Institute in a report on Monday, March 9th. BTIG Research reiterated a “buy” rating and set a $7.00 target price on shares of Oncology Institute in a research note on Monday, March 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a report on Wednesday, January 21st. Finally, B. Riley Financial raised their price target on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Oncology Institute currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Hedge Funds Weigh In On Oncology Institute

Several institutional investors have recently made changes to their positions in the business. Josh Arnold Investment Consultant LLC boosted its holdings in shares of Oncology Institute by 1,104.3% in the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock worth $8,757,000 after buying an additional 2,255,559 shares during the last quarter. CenterBook Partners LP increased its holdings in Oncology Institute by 277.8% during the third 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 during the last quarter. Kanen Wealth Management LLC bought a new position in Oncology Institute in the third quarter worth approximately $6,421,000. Marshall Wace LLP bought a new position in Oncology Institute in the second quarter worth approximately $3,028,000. Finally, Geode Capital Management LLC boosted its stake in shares of Oncology Institute by 231.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after acquiring an additional 893,696 shares during the last quarter. Institutional investors 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.