Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Purchases 60,985 Shares

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 60,985 shares of the business’s stock in a transaction on Monday, March 16th. The stock was purchased at an average cost of $3.29 per share, with a total value of $200,640.65. Following the acquisition, the insider owned 10,176,929 shares in the company, valued at approximately $33,482,096.41. This represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The shares were purchased at an average price of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Price Performance

Shares of TOI traded up $0.18 on Tuesday, reaching $3.59. 4,278,865 shares of the stock traded hands, compared to its average volume of 2,111,345. The stock’s 50-day moving average price is $2.99 and its 200-day moving average price is $3.39. The firm has a market cap of $353.18 million, a price-to-earnings ratio of -6.41 and a beta of 0.14. The Oncology Institute, Inc. has a 12 month low of $0.65 and a 12 month high of $4.88.

Oncology Institute (NASDAQ:TOI) last issued its earnings results on Thursday, March 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Oncology Institute had a negative return on equity of 1,527.21% and a negative net margin of 11.45%.The firm had revenue of $141.96 million during the quarter, compared to analysts’ expectations of $139.78 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Oncology Institute by 6.2% during the third quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company’s stock valued at $15,863,000 after acquiring an additional 264,358 shares during the period. CenterBook Partners LP grew its holdings in shares of Oncology Institute by 12.0% in the 4th quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock worth $10,784,000 after purchasing an additional 324,662 shares during the last quarter. Kanen Wealth Management LLC increased its position in shares of Oncology Institute by 61.6% during the 4th quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company’s stock worth $10,712,000 after purchasing an additional 1,134,043 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Oncology Institute by 17.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock worth $5,163,000 after purchasing an additional 371,005 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC lifted its holdings in Oncology Institute by 1,104.3% during the 4th quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock valued at $8,757,000 after purchasing an additional 2,255,559 shares during the last quarter. 36.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TOI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research report on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Oncology Institute in a research note on Monday, March 9th. BTIG Research reissued a “buy” rating and issued a $7.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. Finally, B. Riley Financial raised their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

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.