Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Purchases 12,000 Shares

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $4.75 per share, with a total value of $57,000.00. Following the purchase, the insider owned 10,579,858 shares in the company, valued at $50,254,325.50. The trade was a 0.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, May 20th, Jorey Chernett acquired 33,500 shares of Oncology Institute stock. The stock was bought at an average cost of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 5,000 shares of Oncology Institute stock. The stock was bought at an average cost of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett acquired 30,000 shares of Oncology Institute stock. The stock was bought at an average cost of $4.09 per share, with a total value of $122,700.00.
• On Thursday, April 9th, Jorey Chernett acquired 20,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.10 per share, with a total value of $62,000.00.
• 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, with a total value of $388,750.00.
• On Friday, March 20th, Jorey Chernett acquired 25,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.35 per share, with a total value of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The shares were acquired 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 shares were acquired at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Stock Up 5.8%

Shares of TOI stock traded up $0.28 during trading hours on Friday, hitting $5.02. 841,582 shares of the company’s stock traded hands, compared to its average volume of 1,861,000. The stock’s 50 day simple moving average is $3.75 and its 200 day simple moving average is $3.39. The stock has a market cap of $495.68 million, a PE ratio of -13.57 and a beta of 0.37. The Oncology Institute, Inc. has a 12 month low of $2.02 and a 12 month high of $5.09.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to the consensus estimate of $142.10 million. As a group, equities research analysts expect that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncology Institute

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Oncology Institute by 36.6% during the first quarter. Bank of America Corp DE now owns 63,439 shares of the company’s stock worth $195,000 after buying an additional 16,991 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Oncology Institute during the first quarter worth $154,000. Royal Bank of Canada raised its stake in Oncology Institute by 335.9% during the first quarter. Royal Bank of Canada now owns 22,257 shares of the company’s stock worth $68,000 after buying an additional 17,151 shares during the last quarter. FourWorld Capital Management LLC raised its stake in Oncology Institute by 30.4% during the first quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company’s stock worth $1,533,000 after buying an additional 116,496 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Oncology Institute by 25.1% during the first quarter. Renaissance Technologies LLC now owns 902,809 shares of the company’s stock worth $2,772,000 after buying an additional 180,909 shares during the last quarter. Institutional investors own 36.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. BTIG Research reaffirmed a “buy” rating and set a $7.00 price target on shares of Oncology Institute in a research note on Monday, March 9th. B. Riley Financial raised their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Oncology Institute in a research note on Monday, March 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

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.