Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Acquires 33,500 Shares

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 33,500 shares of Oncology Institute stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $4.07 per share, for a total transaction of $136,345.00. Following the transaction, the insider directly owned 10,567,858 shares in the company, valued at $43,011,182.06. This represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, May 19th, Jorey Chernett purchased 5,000 shares of Oncology Institute stock. The stock was bought at an average cost of $4.05 per share, for a total transaction of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 30,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $4.09 per share, for a total transaction of $122,700.00.
• On Thursday, April 9th, Jorey Chernett bought 20,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.10 per share, for a total transaction of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett bought 125,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.11 per share, for a total transaction of $388,750.00.
• On Friday, March 20th, Jorey Chernett bought 25,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett bought 60,985 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.29 per share, for a total transaction of $200,640.65.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Stock Performance

Shares of NASDAQ TOI opened at $4.47 on Friday. The Oncology Institute, Inc. has a fifty-two week low of $2.02 and a fifty-two week high of $4.88. The firm has a market capitalization of $441.81 million, a PE ratio of -12.08 and a beta of 0.33. The stock’s 50-day simple moving average is $3.47 and its 200-day simple moving average is $3.32.

Oncology Institute (NASDAQ:TOI) last issued its 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 analyst estimates of $142.10 million. On average, sell-side analysts forecast that The Oncology Institute, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CenterBook Partners LP grew its stake in shares of Oncology Institute by 277.8% in the 3rd quarter. CenterBook Partners LP now owns 2,704,650 shares of the company’s stock valued at $9,439,000 after purchasing an additional 1,988,751 shares during the last quarter. EHP Funds Inc. purchased a new position in shares of Oncology Institute in the 3rd quarter valued at approximately $852,000. State of Wyoming grew its stake in shares of Oncology Institute by 249.0% in the 3rd quarter. State of Wyoming now owns 62,985 shares of the company’s stock valued at $220,000 after purchasing an additional 44,937 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Oncology Institute in the 3rd quarter valued at approximately $99,000. Finally, Intrua Financial LLC purchased a new position in shares of Oncology Institute in the 3rd quarter valued at approximately $61,000. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on TOI. BTIG Research restated 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 Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Oncology Institute in a research note on Monday, March 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus 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.