GatePass Capital LLC Purchases New Holdings in The Oncology Institute, Inc. $TOI

GatePass Capital LLC purchased a new stake in The Oncology Institute, Inc. (NASDAQ:TOI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 360,000 shares of the company’s stock, valued at approximately $1,282,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. acquired a new position in Oncology Institute in the 4th quarter valued at about $36,000. R Squared Ltd acquired a new position in Oncology Institute in the 4th quarter valued at about $41,000. Prelude Capital Management LLC acquired a new position in Oncology Institute in the 3rd quarter valued at about $41,000. BNP Paribas Financial Markets boosted its holdings in Oncology Institute by 141.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company’s stock valued at $42,000 after purchasing an additional 7,091 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Oncology Institute in the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 36.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TOI. BTIG Research reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Finally, B. Riley Financial lifted their price objective on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Oncology Institute has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Oncology Institute Price Performance

Shares of NASDAQ:TOI opened at $4.59 on Tuesday. The Oncology Institute, Inc. has a 12 month low of $2.02 and a 12 month high of $4.88. The business’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $3.33. The firm has a market capitalization of $453.68 million, a price-to-earnings ratio of -12.41 and a beta of 0.33.

Oncology Institute (NASDAQ:TOI) last posted its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $142.10 million. On average, equities analysts anticipate that The Oncology Institute, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Oncology Institute

In other Oncology Institute news, major shareholder Jorey Chernett purchased 263,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $2.92 per share, for a total transaction of $767,960.00. Following the acquisition, the insider owned 10,115,944 shares of the company’s stock, valued at approximately $29,538,556.48. The trade was a 2.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mohit Kaushal sold 57,286 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $3.50, for a total value of $200,501.00. Following the completion of the transaction, the director owned 211,016 shares of the company’s stock, valued at $738,556. The trade was a 21.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders acquired a total of 637,485 shares of company stock valued at $2,038,896 over the last quarter. 8.50% of the stock is currently owned by insiders.

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.