Oncology Institute (NASDAQ:TOI) Sets New 12-Month High – Here’s Why

The Oncology Institute, Inc. (NASDAQ:TOI) shares hit a new 52-week high on Monday . The company traded as high as $5.82 and last traded at $5.5980, with a volume of 338200 shares changing hands. The stock had previously closed at $5.39.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TOI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. B. Riley Financial raised their price target 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 lifted their price target on Oncology Institute from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Needham & Company LLC upped their price objective on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Oncology Institute has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Oncology Institute Trading Up 1.8%

The stock has a market capitalization of $542.14 million, a price-to-earnings ratio of -14.88 and a beta of 0.37. The company’s 50 day moving average is $4.38 and its 200 day moving average is $3.60.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. Analysts anticipate that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Oncology Institute news, insider Yale Podnos sold 23,451 shares of Oncology Institute stock in a transaction that occurred on Monday, June 8th. The stock was 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 of the company’s stock, valued at $1,396,255.26. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 33,500 shares of Oncology Institute stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $4.07 per share, with a total value of $136,345.00. Following the purchase, the insider owned 10,567,858 shares of the company’s stock, valued at $43,011,182.06. The trade was a 0.32% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 118,500 shares of company stock worth $488,655 and have sold 119,170 shares worth $461,183. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Oncology Institute

Institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new position in Oncology Institute during the 4th quarter worth $31,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Oncology Institute in the fourth quarter valued at about $36,000. Cetera Investment Advisers boosted its stake in shares of Oncology Institute by 35.0% during 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 during the period. State of Wyoming acquired a new stake in shares of Oncology Institute during the second quarter worth about $37,000. Finally, R Squared Ltd purchased a new position in shares of Oncology Institute during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.

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.