Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Acquires 5,000 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $4.05 per share, for a total transaction of $20,250.00. Following the completion of the purchase, the insider directly owned 10,534,358 shares of the company’s stock, valued at $42,664,149.90. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large 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 purchased 33,500 shares of Oncology Institute stock. The stock was bought at an average cost of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 30,000 shares of Oncology Institute stock. The stock was purchased at an average price 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 purchased at an average price of $3.10 per share, with a total value of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett bought 125,000 shares of Oncology Institute stock. The shares were bought at an average price 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 price of $3.35 per share, with a total value of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The stock was purchased at an average cost 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 stock was purchased at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The shares were bought at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Price Performance

Shares of NASDAQ TOI traded down $0.04 during mid-day trading on Thursday, hitting $4.17. 358,184 shares of the company’s stock traded hands, compared to its average volume of 1,889,279. The Oncology Institute, Inc. has a 1 year low of $2.02 and a 1 year high of $4.88. The company has a market capitalization of $411.67 million, a P/E ratio of -11.26 and a beta of 0.33. The company’s 50-day moving average is $3.43 and its two-hundred day moving average is $3.32.

Oncology Institute (NASDAQ:TOI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $142.10 million. Equities analysts anticipate that The Oncology Institute, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncology Institute

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in shares of Oncology Institute during the first quarter worth $131,000. Geode Capital Management LLC lifted its stake 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 buying an additional 893,696 shares in the last quarter. 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 valued at $36,000 after buying an additional 4,545 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Oncology Institute by 51,631.5% in the second quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company’s stock worth $57,000 after buying an additional 27,881 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Oncology Institute in the second quarter worth $92,000. Institutional investors and hedge funds own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TOI. 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. BTIG Research reiterated a “buy” rating and issued a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Oncology Institute has an average rating of “Moderate Buy” and a consensus target price of $7.00.

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.