Oncology Institute (NASDAQ:TOI) Major Shareholder Purchases $83,750.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 25,000 shares of Oncology Institute stock in a transaction on Friday, March 20th. The stock was purchased at an average cost of $3.35 per share, for a total transaction of $83,750.00. Following the purchase, the insider owned 10,276,929 shares in the company, valued at approximately $34,427,712.15. The trade was a 0.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were purchased at an average price of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The stock was acquired at an average price of $3.29 per share, for a total transaction of $200,640.65.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Price Performance

Shares of NASDAQ TOI traded down $0.05 during mid-day trading on Monday, hitting $3.27. 710,293 shares of the company’s stock traded hands, compared to its average volume of 2,124,538. The Oncology Institute, Inc. has a 1 year low of $0.97 and a 1 year high of $4.88. The company’s 50-day moving average is $2.94 and its two-hundred day moving average is $3.39. The company has a market capitalization of $323.21 million, a P/E ratio of -5.83 and a beta of 0.14.

Oncology Institute (NASDAQ:TOI) last released its quarterly 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 company had revenue of $141.96 million during the quarter, compared to analyst estimates of $139.78 million.

Institutional Trading of Oncology Institute

A number of hedge funds and other institutional investors have recently bought and sold shares of TOI. Vanguard Group Inc. lifted its position 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 worth $15,863,000 after purchasing an additional 264,358 shares during the last quarter. CenterBook Partners LP grew its holdings in shares of Oncology Institute by 12.0% in the fourth 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 stake in Oncology Institute by 61.6% in the 4th quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company’s stock worth $10,712,000 after buying an additional 1,134,043 shares during the period. Balyasny Asset Management L.P. increased its stake in Oncology Institute by 17.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock worth $5,163,000 after buying an additional 371,005 shares during the period. 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 buying an additional 2,255,559 shares in the last quarter. Hedge funds and other institutional investors own 36.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TOI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a report on Wednesday, January 21st. BTIG Research restated a “buy” rating and issued a $7.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Oncology Institute in a research note on Monday, March 9th. Finally, B. Riley Financial boosted their price objective on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research report 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Oncology Institute Company Profile

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.