Oncology Institute (NASDAQ:TOI) Major Shareholder Buys $20,250.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $4.05 per share, with a total value of $20,250.00. Following the completion of the acquisition, the insider directly owned 10,534,358 shares of the company’s stock, valued at $42,664,149.90. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, May 20th, Jorey Chernett acquired 33,500 shares of Oncology Institute stock. The shares were bought at an average cost of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 30,000 shares of Oncology Institute stock. The shares were bought at an average cost of $4.09 per share, with a total value of $122,700.00.
• On Thursday, April 9th, Jorey Chernett acquired 20,000 shares of Oncology Institute stock. The shares were bought 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 bought 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 bought 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 bought 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 bought 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, with a total value of $767,960.00.

Oncology Institute Trading Up 2.7%

Shares of NASDAQ TOI opened at $4.59 on Friday. The firm has a 50 day moving average of $3.50 and a 200 day moving average of $3.33. The firm has a market capitalization of $453.68 million, a price-to-earnings ratio of -12.41 and a beta of 0.33. The Oncology Institute, Inc. has a 12-month low of $2.02 and a 12-month high of $4.88.

Oncology Institute (NASDAQ:TOI) last announced its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to the consensus estimate of $142.10 million. Sell-side analysts predict that The Oncology Institute, Inc. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Oncology Institute

A number of hedge funds have recently modified their holdings of TOI. Josh Arnold Investment Consultant LLC boosted 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 purchasing an additional 2,255,559 shares during the period. CenterBook Partners LP boosted 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 purchasing an additional 1,988,751 shares during the period. Kanen Wealth Management LLC bought a new position in shares of Oncology Institute in the third quarter worth approximately $6,421,000. Marshall Wace LLP bought a new position in shares of Oncology Institute in the second quarter worth approximately $3,028,000. Finally, Geode Capital Management LLC boosted 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 purchasing an additional 893,696 shares during the period. 36.86% of the stock is currently owned by 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.