Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Buys 18,000 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were acquired at an average cost of $5.27 per share, with a total value of $94,860.00. Following the purchase, the insider directly owned 10,648,858 shares of the company’s stock, valued at $56,119,481.66. This trade represents a 0.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 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 Friday, July 10th, Jorey Chernett purchased 15,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $5.85 per share, for a total transaction of $87,750.00.
• On Tuesday, June 23rd, Jorey Chernett purchased 18,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $5.02 per share, for a total transaction of $90,360.00.
• On Thursday, June 4th, Jorey Chernett acquired 12,000 shares of Oncology Institute stock. The shares were bought at an average cost of $4.75 per share, with a total value of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett acquired 33,500 shares of Oncology Institute stock. The stock was bought at an average price 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 price of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 30,000 shares of Oncology Institute stock. The shares were bought at an average price of $4.09 per share, for a total transaction of $122,700.00.

Oncology Institute Trading Down 6.7%

NASDAQ TOI traded down $0.35 on Tuesday, hitting $4.84. 1,334,484 shares of the company were exchanged, compared to its average volume of 1,917,974. The company has a market cap of $478.68 million, a PE ratio of -13.09 and a beta of 0.36. The stock has a fifty day moving average of $5.14 and a 200-day moving average of $3.88. The Oncology Institute, Inc. has a 12 month low of $2.32 and a 12 month high of $6.67.

Oncology Institute (NASDAQ:TOI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. On average, analysts expect that The Oncology Institute, Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Oncology Institute

Several institutional investors and hedge funds have recently modified their holdings of TOI. Fermata Advisors LLC bought a new position in shares of Oncology Institute in the second quarter valued at approximately $70,000. Bank of America Corp DE raised its position in Oncology Institute by 36.6% in the 1st quarter. Bank of America Corp DE now owns 63,439 shares of the company’s stock valued at $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 1st quarter valued at $154,000. Royal Bank of Canada lifted its stake 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 acquiring an additional 17,151 shares in the last quarter. Finally, FourWorld Capital Management LLC boosted 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 worth $1,533,000 after acquiring an additional 116,496 shares during the last quarter. 36.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BTIG Research raised their price objective on Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research report on Friday, July 17th. Lake Street Capital initiated coverage on shares of Oncology Institute in a research note on Monday, July 6th. They set a “buy” rating and a $10.00 price target for the company. Finally, Needham & Company LLC upped their price objective on shares of Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Oncology Institute presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

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.