Panoramic Capital LLC Takes $543,000 Position in The Oncology Institute, Inc. $TOI

Panoramic Capital LLC bought a new stake in The Oncology Institute, Inc. (NASDAQ:TOI) in the 2nd quarter, Holdings Channel.com reports. The fund bought 100,000 shares of the company’s stock, valued at approximately $543,000.

Several other large investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new stake in Oncology Institute in the 2nd quarter worth about $2,129,000. Manatuck Hill Partners LLC acquired a new position in shares of Oncology Institute during the 2nd quarter valued at about $2,444,000. Legal & General Group Plc acquired a new position in shares of Oncology Institute during the 2nd quarter valued at about $41,000. The Manufacturers Life Insurance Company purchased a new position in shares of Oncology Institute during the 2nd quarter worth about $111,000. Finally, Globeflex Capital L P purchased a new position in shares of Oncology Institute during the 2nd quarter worth about $142,000. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

Oncology Institute Price Performance

NASDAQ TOI opened at $5.19 on Thursday. The firm has a market capitalization of $512.58 million, a P/E ratio of -14.02 and a beta of 0.39. The Oncology Institute, Inc. has a 1-year low of $2.32 and a 1-year high of $6.67. The business’s 50-day simple moving average is $5.31 and its 200-day simple moving average is $4.17.

Oncology Institute (NASDAQ:TOI) last posted its earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $161.28 million for the quarter, compared to analysts’ expectations of $155.28 million. On average, equities research analysts expect that The Oncology Institute, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Oncology Institute

In other Oncology Institute news, major shareholder Jorey Chernett bought 18,000 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were acquired at an average price of $5.27 per share, with a total value of $94,860.00. Following the purchase, the insider owned 10,648,858 shares in the company, valued at approximately $56,119,481.66. The trade was a 0.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Yale Podnos sold 23,451 shares of Oncology Institute stock in a transaction on Monday, June 8th. The shares were sold at an average price of $5.38, for a total transaction of $126,166.38. Following the transaction, the insider owned 259,527 shares in the company, valued at $1,396,255.26. The trade was a 8.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have acquired 63,000 shares of company stock valued at $329,970. 4.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TOI shares. Needham & Company LLC boosted their target price on shares of Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research note on Friday, July 17th. BTIG Research lifted their price target on shares of Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Lake Street Capital started coverage on shares of Oncology Institute in a research note on Monday, July 6th. They set a “buy” rating and a $10.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

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.