Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Acquires $90,360.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 18,000 shares of Oncology Institute stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price of $5.02 per share, with a total value of $90,360.00. Following the transaction, the insider owned 10,615,858 shares in the company, valued at approximately $53,291,607.16. The trade was a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 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 Thursday, June 4th, Jorey Chernett acquired 12,000 shares of Oncology Institute stock. The shares were purchased at an average price of $4.75 per share, with a total value of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett bought 33,500 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The shares were purchased at an average cost 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 stock was purchased at an average price of $4.09 per share, for a total transaction of $122,700.00.
• On Thursday, April 9th, Jorey Chernett purchased 20,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $3.10 per share, for a total transaction of $62,000.00.

Oncology Institute Price Performance

Shares of NASDAQ:TOI opened at $5.39 on Friday. The Oncology Institute, Inc. has a 1 year low of $2.02 and a 1 year high of $5.57. The firm has a market capitalization of $532.75 million, a PE ratio of -14.57 and a beta of 0.37. The business’s 50 day moving average price is $4.38 and its 200-day moving average price is $3.60.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. BTIG Research increased their price objective on shares of Oncology Institute from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, June 8th. B. Riley Financial raised their target price 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, Needham & Company LLC boosted their target price on 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 issued a Sell rating to the company. According to MarketBeat.com, Oncology Institute has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Institutional Trading of Oncology Institute

Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new stake in shares of Oncology Institute during the 1st quarter valued at approximately $131,000. Geode Capital Management LLC lifted its holdings in Oncology Institute by 231.7% in the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock valued at $2,623,000 after acquiring an additional 893,696 shares during the last quarter. Cetera Investment Advisers grew its position in Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after acquiring an additional 4,545 shares during the period. JPMorgan Chase & Co. grew its position 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 acquiring an additional 27,881 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Oncology Institute during the second quarter worth $92,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.

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.