Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Purchases $57,000.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 12,000 shares of Oncology Institute stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $4.75 per share, for a total transaction of $57,000.00. Following the completion of the purchase, the insider directly owned 10,579,858 shares in the company, valued at approximately $50,254,325.50. This trade represents a 0.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 purchased 30,000 shares of Oncology Institute stock. The stock was bought at an average cost 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 bought at an average cost of $3.10 per share, for a total transaction of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett purchased 125,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.11 per share, for a total transaction of $388,750.00.
• On Friday, March 20th, Jorey Chernett purchased 25,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett purchased 75,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The stock was bought at an average cost of $3.29 per share, for a total transaction of $200,640.65.
• On Friday, March 13th, Jorey Chernett purchased 263,000 shares of Oncology Institute stock. The stock was bought at an average cost of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Stock Performance

Oncology Institute stock opened at $4.87 on Monday. The company’s 50 day simple moving average is $3.78 and its 200-day simple moving average is $3.39. The Oncology Institute, Inc. has a 1 year low of $2.02 and a 1 year high of $5.17. The company has a market capitalization of $481.35 million, a price-to-earnings ratio of -13.16 and a beta of 0.37.

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 business had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $142.10 million. Equities analysts expect that The Oncology Institute, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TOI has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. BTIG Research reissued a “buy” rating and issued a $7.00 price objective on shares of Oncology Institute in a research note on Monday, March 9th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of Oncology Institute in a research note on Monday, March 9th. Finally, B. Riley Financial raised their price objective on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Institutional Trading of Oncology Institute

Several hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in Oncology Institute by 1.5% in the fourth quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock valued at $964,000 after acquiring an additional 3,900 shares in the last quarter. AQR Capital Management LLC raised its holdings in Oncology Institute by 9.1% in the fourth quarter. AQR Capital Management LLC now owns 48,072 shares of the company’s stock valued at $171,000 after acquiring an additional 4,007 shares in the last quarter. HighTower Advisors LLC raised its holdings in Oncology Institute by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock valued at $306,000 after acquiring an additional 4,489 shares in the last quarter. Cetera Investment Advisers raised its holdings in Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after acquiring an additional 4,545 shares in the last quarter. Finally, R Squared Ltd raised its holdings in Oncology Institute by 42.7% in the first quarter. R Squared Ltd now owns 16,353 shares of the company’s stock valued at $50,000 after acquiring an additional 4,891 shares in the last quarter. Institutional investors and hedge funds 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.