Oncology Institute (NASDAQ:STLN) Stock Price Down 4.4% – What’s Next?

Oncology Institute, Inc. (NASDAQ:STLN) fell 4.4% on Thursday . The company traded as low as $6.19 and last traded at $6.27. Approximately 243,959 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,868,538 shares. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

Separately, Weiss Ratings initiated coverage on Oncology Institute in a research note on Thursday, August 6th. They set a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Oncology Institute Stock Performance

The stock has a market cap of $623.68 million, a price-to-earnings ratio of -21.08 and a beta of 0.38.

Oncology Institute (NASDAQ:STLN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $161.28 million for the quarter, compared to analysts’ expectations of $152.80 million. Sell-side analysts predict that Oncology Institute, Inc. will post -0.21 earnings per share for the current year.

Insider Buying and Selling at Oncology Institute

In other news, major shareholder Jorey Chernett acquired 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $6.54 per share, with a total value of $78,480.00. Following the acquisition, the insider directly owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. The trade was a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad Hively sold 298,853 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.51, for a total transaction of $1,945,533.03. Following the completion of the sale, the director directly owned 411,976 shares in the company, valued at approximately $2,681,963.76. This trade represents a 42.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Oncology Institute stock. AXQ Capital LP purchased a new stake in shares of Oncology Institute, Inc. (NASDAQ:STLN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,460 shares of the company’s stock, valued at approximately $122,000. 36.86% of the stock is owned by institutional investors.

Oncology Institute Company Profile

Oncology Institute is a physician-led healthcare company focused on delivering specialized cancer care through an integrated oncology platform. Its services are designed to support patients throughout the cancer-care journey, including diagnosis, treatment planning, chemotherapy and other medical oncology services, supportive care, and ongoing disease management.

The company’s business model emphasizes value-based oncology care, with care coordination and clinical programs intended to improve outcomes while managing the overall cost of treatment.