Jorey Chernett Acquires 125,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 125,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was purchased at an average price of $3.11 per share, for a total transaction of $388,750.00. Following the completion of the purchase, the insider directly owned 10,401,929 shares in the company, valued at $32,349,999.19. This trade represents a 1.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 Friday, March 20th, Jorey Chernett acquired 25,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett bought 60,985 shares of Oncology Institute stock. The shares were acquired at an average price of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The stock was acquired at an average price of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Trading Up 4.0%

Shares of NASDAQ TOI traded up $0.13 during midday trading on Wednesday, hitting $3.26. The company’s stock had a trading volume of 583,190 shares, compared to its average volume of 2,125,415. The firm has a market capitalization of $321.72 million, a price-to-earnings ratio of -5.81 and a beta of 0.14. The stock has a fifty day moving average price of $2.92 and a 200 day moving average price of $3.39. The Oncology Institute, Inc. has a one year low of $0.97 and a one year high of $4.88.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings data 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 net margin of 11.45% and a negative return on equity of 1,527.21%. The company had revenue of $141.96 million during the quarter, compared to the consensus estimate of $139.78 million.

Hedge Funds Weigh In On Oncology Institute

A number of institutional investors have recently added to or reduced their stakes in TOI. Goldman Sachs Group Inc. purchased a new stake in Oncology Institute during the first quarter valued at about $131,000. ProShare Advisors LLC purchased a new position in shares of Oncology Institute during the 2nd quarter valued at about $25,000. Geode Capital Management LLC lifted its position in Oncology Institute by 231.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after buying an additional 893,696 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Oncology Institute in the second quarter worth approximately $32,000. Finally, Cetera Investment Advisers boosted its stake in Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after buying an additional 4,545 shares in the last quarter. 36.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TOI has been the topic of a number of analyst reports. B. Riley Financial boosted their price objective on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. BTIG Research reaffirmed a “buy” rating and set a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a report on Wednesday, January 21st. Finally, 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average 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.