Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Purchases 30,000 Shares

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $4.09 per share, with a total value of $122,700.00. Following the transaction, the insider owned 10,529,358 shares in the company, valued at approximately $43,065,074.22. This trade represents a 0.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Thursday, April 9th, Jorey Chernett acquired 20,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.10 per share, with a total value of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett acquired 125,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.11 per share, with a total value of $388,750.00.
• On Friday, March 20th, Jorey Chernett acquired 25,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.35 per share, with a total value of $83,750.00.
• 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, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The shares were bought at an average cost of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Stock Up 2.4%

TOI stock opened at $4.20 on Thursday. The Oncology Institute, Inc. has a twelve month low of $2.02 and a twelve month high of $4.88. The stock has a market cap of $415.13 million, a P/E ratio of -11.35 and a beta of 0.33. The business’s 50-day moving average price is $3.43 and its 200-day moving average price is $3.32.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $147.44 million for the quarter, compared to the consensus estimate of $142.10 million. On average, equities research analysts expect that The Oncology Institute, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oncology Institute

A number of hedge funds have recently made changes to their positions in TOI. Josh Arnold Investment Consultant LLC lifted its position 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 in the last quarter. CenterBook Partners LP lifted its position in shares of Oncology Institute by 277.8% in the third quarter. CenterBook Partners LP now owns 2,704,650 shares of the company’s stock worth $9,439,000 after buying an additional 1,988,751 shares in the last quarter. Kanen Wealth Management LLC purchased a new stake in shares of Oncology Institute in the third quarter worth about $6,421,000. Marshall Wace LLP purchased a new stake in shares of Oncology Institute in the second quarter worth about $3,028,000. Finally, Geode Capital Management LLC lifted its position in shares of Oncology Institute by 231.7% in the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after buying an additional 893,696 shares in the last quarter. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.