Oncology Institute Sees Unusually High Options Volume (NASDAQ:STLN)

Oncology Institute, Inc. (NASDAQ:STLN) was the target of some unusual options trading activity on Tuesday. Investors acquired 10,914 call options on the stock. This is an increase of approximately 365% compared to the typical volume of 2,346 call options.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Lake Street Capital cut their price target on Oncology Institute from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. BTIG Research lifted their price objective on Oncology Institute from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, November 6th. B. Riley Financial reissued a “buy” rating and issued a $10.00 target price (down from $11.00) on shares of Oncology Institute in a report on Friday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research note on Tuesday, November 3rd. Finally, Needham & Company LLC raised their price target on Oncology Institute from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

Oncology Institute Stock Performance

STLN opened at $4.20 on Thursday. The stock has a 50 day simple moving average of $6.32. Oncology Institute has a 1-year low of $2.32 and a 1-year high of $7.13.

Oncology Institute (NASDAQ:STLN) last posted its quarterly earnings data 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 firm had revenue of $169.77 million during the quarter. On average, equities analysts anticipate that Oncology Institute will post -0.21 EPS for the current year.

Insider Buying and Selling at Oncology Institute

In related news, Director Brad Hively sold 298,853 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.51, for a total value of $1,945,533.03. Following the sale, the director directly owned 411,976 shares of the company’s stock, valued at $2,681,963.76. This trade represents a 42.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 48,294 shares of the company’s stock in a transaction on Monday, November 9th. The stock was acquired at an average price of $3.65 per share, with a total value of $176,273.10. Following the acquisition, the insider owned 7,858,091 shares in the company, valued at approximately $28,682,032.15. This trade represents a 0.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

Several institutional investors have recently bought and sold shares of STLN. Legal & General Group Plc purchased a new position in shares of Oncology Institute in the second quarter valued at $41,000. AMG National Trust Bank purchased a new stake in Oncology Institute during the second quarter valued at $54,000. Engineers Gate Manager LP purchased a new stake in Oncology Institute during the second quarter valued at $67,000. Fermata Advisors LLC purchased a new stake in Oncology Institute during the second quarter valued at $70,000. Finally, WINTON GROUP Ltd bought a new position in Oncology Institute during the second quarter valued at $102,000. 36.86% of the stock is owned by hedge funds and other institutional investors.

About Oncology Institute

The Oncology Institute is a physician-led provider of cancer care. Its services include medical oncology and hematology consultations, cancer treatment and infusion services, pharmacy support, and access to clinical trials. The company combines community-based clinics with care coordination and value-based care programs intended to support patients throughout treatment. It serves patients in several U.S. states, including California, Nevada, Arizona, and Florida. Founded in 2007, The Oncology Institute has expanded its network of oncology clinics and related services to provide cancer care closer to where patients live.