Oncology Institute (NASDAQ:TOI) Hits New 1-Year High on Insider Buying Activity

The Oncology Institute, Inc. (NASDAQ:TOI)’s stock price hit a new 52-week high during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $5.09 and last traded at $5.0740, with a volume of 1325600 shares traded. The stock had previously closed at $4.74.

Specifically, major shareholder Jorey Chernett purchased 12,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $4.75 per share, for a total transaction of $57,000.00. Following the completion of the acquisition, the insider owned 10,579,858 shares of the company’s stock, valued at approximately $50,254,325.50. This trade represents a 0.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

A number of analysts recently issued reports on TOI shares. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of Oncology Institute in a report on Monday, March 9th. B. Riley Financial boosted their price target on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Finally, BTIG Research reiterated a “buy” rating and issued a $7.00 price target on shares of Oncology Institute in a report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Oncology Institute presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Oncology Institute Price Performance

The business has a fifty day simple moving average of $3.75 and a two-hundred day simple moving average of $3.39. The company has a market cap of $499.64 million, a PE ratio of -13.82 and a beta of 0.37.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million. On average, equities research analysts predict that The Oncology Institute, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Oncology Institute

A number of large investors have recently made changes to their positions in TOI. Goldman Sachs Group Inc. acquired a new position in shares of Oncology Institute during the first quarter worth $131,000. Geode Capital Management LLC increased its position in shares of Oncology Institute by 231.7% during the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after purchasing an additional 893,696 shares in the last quarter. Cetera Investment Advisers increased its position in shares of 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 in the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 27,881 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Oncology Institute in the 2nd quarter valued at $92,000. 36.86% of the stock is owned by institutional investors and hedge funds.

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.