Oncology Institute (NASDAQ:TOI) Sets New 12-Month High – Time to Buy?

The Oncology Institute, Inc. (NASDAQ:TOI)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $5.82 and last traded at $5.5980, with a volume of 338200 shares. The stock had previously closed at $5.39.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TOI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. B. Riley Financial upped their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Needham & Company LLC increased their price objective on shares of Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, BTIG Research raised their price objective on shares of Oncology Institute from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Oncology Institute Trading Down 3.0%

The company has a 50 day moving average price of $4.46 and a 200 day moving average price of $3.63. The company has a market capitalization of $536.70 million, a price-to-earnings ratio of -14.68 and a beta of 0.37.

Oncology Institute (NASDAQ:TOI) last posted its quarterly 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 firm had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. Equities analysts predict that The Oncology Institute, Inc. will post -0.17 earnings per share for the current year.

Insider Activity at Oncology Institute

In other Oncology Institute news, insider Yale Podnos sold 23,451 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 259,527 shares of the company’s stock, valued at approximately $1,396,255.26. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohit Kaushal sold 57,286 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $3.50, for a total value of $200,501.00. Following the completion of the transaction, the director owned 211,016 shares in the company, valued at $738,556. This represents a 21.35% 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 acquired 118,500 shares of company stock worth $488,655 and have sold 119,170 shares worth $461,183. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Oncology Institute

Hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in Oncology Institute during the 4th quarter worth approximately $31,000. Pekin Hardy Strauss Inc. bought a new position in shares of Oncology Institute during the fourth quarter worth $36,000. R Squared Ltd bought a new position in shares of Oncology Institute during the fourth quarter worth $41,000. Prelude Capital Management LLC acquired a new position in shares of Oncology Institute in the 3rd quarter valued at $41,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Oncology Institute by 141.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company’s stock valued at $42,000 after buying an additional 7,091 shares during the period. 36.86% of the stock is currently owned by institutional investors and hedge funds.

About Oncology Institute

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.