Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Buys $83,750.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 25,000 shares of Oncology Institute stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $3.35 per share, with a total value of $83,750.00. Following the completion of the transaction, the insider owned 10,276,929 shares of the company’s stock, valued at approximately $34,427,712.15. This trade represents a 0.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, March 24th, Jorey Chernett acquired 125,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.11 per share, for a total transaction of $388,750.00.
• 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, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett bought 60,985 shares of Oncology Institute stock. The shares were bought at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett purchased 263,000 shares of Oncology Institute stock. The stock was bought at an average price of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Stock Down 0.3%

Oncology Institute stock opened at $3.12 on Thursday. The stock has a market cap of $308.38 million, a P/E ratio of -5.57 and a beta of 0.14. The Oncology Institute, Inc. has a twelve month low of $0.97 and a twelve month high of $4.88. The company’s 50-day moving average price is $2.92 and its two-hundred day moving average price is $3.39.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 company had revenue of $141.96 million during the quarter, compared to analysts’ expectations of $139.78 million.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Oncology Institute

Several hedge funds and other institutional investors have recently made changes to their positions in TOI. Goldman Sachs Group Inc. bought a new stake in shares of Oncology Institute during the 1st quarter worth approximately $131,000. ProShare Advisors LLC acquired a new position in Oncology Institute during the second quarter valued at approximately $25,000. Geode Capital Management LLC raised its position in Oncology Institute by 231.7% during the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock valued at $2,623,000 after purchasing an additional 893,696 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Oncology Institute during the second quarter worth $32,000. Finally, Cetera Investment Advisers lifted its stake in Oncology Institute by 35.0% during the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after purchasing an additional 4,545 shares during the last quarter. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Oncology Institute Company Profile

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.