BTIG Research Increases Oncology Institute (NASDAQ:TOI) Price Target to $8.00

Oncology Institute (NASDAQ:TOI) had its target price lifted by equities researchers at BTIG Research from $7.00 to $8.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 64.27% from the company’s previous close.

Several other research analysts have also recently weighed in on TOI. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Oncology Institute in a research note on Monday, March 9th. B. Riley Financial lifted their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Oncology Institute Stock Performance

NASDAQ:TOI opened at $4.87 on Monday. Oncology Institute has a 12 month low of $2.02 and a 12 month high of $5.17. The company has a market cap of $481.35 million, a PE ratio of -13.16 and a beta of 0.37. The company has a 50 day simple moving average of $3.78 and a two-hundred day simple moving average of $3.39.

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

Insider Buying and Selling at Oncology Institute

In other news, Director Mohit Kaushal sold 38,433 shares of the business’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the sale, the director directly owned 172,583 shares in the company, valued at $604,040.50. The trade was a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 12,000 shares of Oncology Institute stock in a transaction dated Thursday, June 4th. The stock was acquired 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 in the company, valued at approximately $50,254,325.50. The trade was a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 649,485 shares of company stock worth $2,095,896. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Oncology Institute

Large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Oncology Institute by 36.6% during the 1st quarter. Bank of America Corp DE now owns 63,439 shares of the company’s stock valued at $195,000 after purchasing an additional 16,991 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Oncology Institute during the 1st quarter valued at about $154,000. Royal Bank of Canada grew its holdings in Oncology Institute by 335.9% during the 1st quarter. Royal Bank of Canada now owns 22,257 shares of the company’s stock valued at $68,000 after purchasing an additional 17,151 shares during the last quarter. FourWorld Capital Management LLC grew its holdings in Oncology Institute by 30.4% during the 1st quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company’s stock valued at $1,533,000 after purchasing an additional 116,496 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Oncology Institute by 25.1% during the 1st quarter. Renaissance Technologies LLC now owns 902,809 shares of the company’s stock valued at $2,772,000 after purchasing an additional 180,909 shares during the last quarter. 36.86% of the stock is currently owned by institutional investors.

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.