Jorey Chernett Buys 60,985 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 60,985 shares of the stock in a transaction on Monday, March 16th. The shares were acquired at an average cost of $3.29 per share, for a total transaction of $200,640.65. Following the completion of the transaction, the insider directly owned 10,176,929 shares of the company’s stock, valued at approximately $33,482,096.41. The trade was a 0.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were bought at an average price of $3.42 per share, for a total transaction of $256,500.00.
• On Friday, March 13th, Jorey Chernett purchased 263,000 shares of Oncology Institute stock. The stock was bought at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Stock Performance

TOI opened at $3.60 on Thursday. The company has a market cap of $354.17 million, a PE ratio of -6.43 and a beta of 0.14. The stock has a 50-day moving average of $2.98 and a 200-day moving average of $3.39. The Oncology Institute, Inc. has a 52-week low of $0.83 and a 52-week high of $4.88.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Oncology Institute had a negative return on equity of 1,527.21% and a negative net margin of 11.45%.The business had revenue of $141.96 million for the quarter, compared to analyst estimates of $139.78 million.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TOI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research report on Wednesday, January 21st. B. Riley Financial upped their price objective on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, March 13th. BTIG Research reiterated a “buy” rating and issued a $7.00 target price on shares of Oncology Institute in a research note on Monday, March 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Institutional Trading of Oncology Institute

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new position in Oncology Institute in the 1st quarter worth approximately $131,000. ProShare Advisors LLC acquired a new position in shares of Oncology Institute during the second quarter worth approximately $25,000. 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 valued at $2,623,000 after acquiring an additional 893,696 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Oncology Institute in the second quarter valued at approximately $32,000. Finally, Cetera Investment Advisers grew its stake in shares of Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after acquiring an additional 4,545 shares during the last quarter. Institutional investors and hedge funds own 36.86% of the company’s stock.

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.