Cetera Investment Advisers Boosts Stock Holdings in The Oncology Institute, Inc. $TOI

Cetera Investment Advisers increased its stake in The Oncology Institute, Inc. (NASDAQ:TOI) by 427.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,195 shares of the company’s stock after acquiring an additional 103,908 shares during the period. Cetera Investment Advisers’ holdings in Oncology Institute were worth $394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TOI. Goldman Sachs Group Inc. purchased a new stake in Oncology Institute during the 1st quarter worth about $131,000. Geode Capital Management LLC boosted its stake in shares of Oncology Institute by 231.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock valued at $2,623,000 after buying an additional 893,696 shares during the period. JPMorgan Chase & Co. grew its position in shares of Oncology Institute by 51,631.5% during the second quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company’s stock worth $57,000 after buying an additional 27,881 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Oncology Institute during the second quarter worth about $92,000. Finally, Invesco Ltd. acquired a new position in shares of Oncology Institute during the second quarter worth about $79,000. 36.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TOI. BTIG Research raised their target price on shares of Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC increased their price objective 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. Lake Street Capital initiated coverage on shares of Oncology Institute in a report on Monday, July 6th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Insider Transactions at Oncology Institute

In other news, major shareholder Jorey Chernett bought 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was purchased at an average cost of $5.27 per share, with a total value of $94,860.00. Following the transaction, the insider directly owned 10,648,858 shares in the company, valued at $56,119,481.66. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Yale Podnos sold 23,451 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $5.38, for a total value of $126,166.38. Following the transaction, the insider owned 259,527 shares in the company, valued at $1,396,255.26. This represents a 8.29% decrease in their position. 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. Insiders have bought 63,000 shares of company stock worth $329,970 in the last quarter. Insiders own 4.40% of the company’s stock.

Oncology Institute Price Performance

NASDAQ TOI opened at $5.19 on Friday. The firm’s fifty day moving average price is $5.31 and its 200 day moving average price is $4.10. The company has a market capitalization of $512.58 million, a price-to-earnings ratio of -14.02 and a beta of 0.39. The Oncology Institute, Inc. has a 12 month low of $2.32 and a 12 month high of $6.67.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings results 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 company had revenue of $161.28 million for the quarter, compared to analysts’ expectations of $155.28 million. As a group, sell-side analysts forecast that The Oncology Institute, Inc. will post -0.18 earnings per share for the current year.

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.