Oncology Institute (NASDAQ:STLN) Posts Earnings Results, Misses Expectations By $0.06 EPS

Oncology Institute (NASDAQ:STLN) posted its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06), Zacks reports. The firm had revenue of $169.77 million for the quarter.

Oncology Institute Trading Down 3.6%

Shares of STLN traded down $0.25 during trading hours on Thursday, reaching $6.69. 1,827,094 shares of the company traded hands, compared to its average volume of 1,738,016. The firm has a fifty day moving average of $6.48. The firm has a market cap of $661.24 million, a PE ratio of -22.30 and a beta of 0.44. Oncology Institute has a 1-year low of $2.32 and a 1-year high of $7.13.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on STLN shares. Needham & Company LLC boosted their price target on shares of Oncology Institute from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. BTIG Research boosted their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Insiders Place Their Bets

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

Oncology Institute Company Profile

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals.

The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.