Oncology Institute (NASDAQ:STLN) Stock Rating Reaffirmed as “Buy” by B. Riley Financial

Oncology Institute (NASDAQ:STLN)‘s stock had its “buy” rating reissued by analysts at B. Riley Financial in a research note issued on Friday, Benzinga reports. They presently have a $10.00 target price on the stock, down from their prior target price of $11.00. B. Riley Financial‘s price target would suggest a potential upside of 121.68% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC boosted their target price on shares of Oncology Institute from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research report on Tuesday. Finally, BTIG Research lifted their price target on shares of Oncology Institute from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.75.

Oncology Institute Stock Performance

Shares of Oncology Institute stock traded down $2.19 during midday trading on Friday, hitting $4.51. 4,781,300 shares of the company were exchanged, compared to its average volume of 1,746,772. The firm has a 50 day simple moving average of $6.49. The company has a market capitalization of $445.87 million, a price-to-earnings ratio of -15.03 and a beta of 0.44. Oncology Institute has a 52 week low of $2.32 and a 52 week high of $7.13.

Oncology Institute (NASDAQ:STLN) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $169.77 million during the quarter. As a group, sell-side analysts anticipate that Oncology Institute will post -0.21 earnings per share for the current year.

Insider Activity at Oncology Institute

In related news, major shareholder Jorey Chernett purchased 12,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $6.54 per share, with a total value of $78,480.00. Following the completion of the acquisition, the insider directly owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. This trade represents a 0.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brad Hively sold 298,853 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $6.51, for a total transaction of $1,945,533.03. Following the completion of the transaction, the director owned 411,976 shares of the company’s stock, valued at $2,681,963.76. This trade represents a 42.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. R Squared Ltd increased its stake in shares of Oncology Institute by 42.7% in the 1st quarter. R Squared Ltd now owns 16,353 shares of the company’s stock valued at $50,000 after buying an additional 4,891 shares during the period. Legal & General Group Plc bought a new stake in shares of Oncology Institute during the second quarter worth $41,000. AMG National Trust Bank acquired a new position in shares of Oncology Institute during the second quarter valued at $54,000. Engineers Gate Manager LP acquired a new position in shares of Oncology Institute during the second quarter valued at $67,000. Finally, Fermata Advisors LLC acquired a new position in shares of Oncology Institute during the second quarter valued at $70,000. 36.86% of the stock is currently owned by institutional investors.

Oncology Institute News Summary

Here are the key news stories impacting Oncology Institute this week:

• Positive Sentiment: BTIG Research raised its price target to $10 from $9 and reiterated a Buy rating. The new target implies substantial upside from the price cited in the report. Tickerreport article
• Positive Sentiment: Third-quarter revenue beat estimates, and the per-share loss narrowed to $0.13 from $0.14 a year earlier. Zacks earnings article
• Negative Sentiment: The company reported a third-quarter loss of $0.13 per share, worse than the $0.07 loss analysts expected. The earnings shortfall is a near-term negative, despite the year-over-year improvement. Third-quarter results and guidance

Oncology Institute Company Profile

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals.

The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.