Oncology Institute (NASDAQ:TOI) Coverage Initiated at Lake Street Capital

Equities researchers at Lake Street Capital assumed coverage on shares of Oncology Institute (NASDAQ:TOI) in a research note issued on Monday. The brokerage set a “buy” rating and a $10.00 price target on the stock. Lake Street Capital’s price target points to a potential upside of 89.39% from the stock’s current price.

A number of other equities research analysts also recently commented on TOI. Needham & Company LLC upped their price objective on Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. BTIG Research upped their price target on Oncology Institute from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. 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 report on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.20.

Oncology Institute Price Performance

TOI opened at $5.28 on Monday. The firm has a 50 day simple moving average of $4.57 and a 200 day simple moving average of $3.66. Oncology Institute has a fifty-two week low of $2.32 and a fifty-two week high of $5.82. The company has a market cap of $521.88 million, a price-to-earnings ratio of -14.27 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings data 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 business had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. As a group, analysts expect that Oncology Institute will post -0.17 EPS for the current year.

Insider Transactions at Oncology Institute

In related news, insider Yale Podnos sold 23,451 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $5.38, for a total value of $126,166.38. Following the completion of the transaction, the insider directly owned 259,527 shares in the company, valued at approximately $1,396,255.26. The trade was a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohit Kaushal sold 38,433 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $3.50, for a total value of $134,515.50. Following the sale, the director directly owned 172,583 shares of the company’s stock, valued at approximately $604,040.50. The trade was a 18.21% 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. Over the last 90 days, insiders have acquired 118,500 shares of company stock valued at $488,655 and have sold 119,170 shares valued at $461,183. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in Oncology Institute during the 4th quarter worth about $31,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Oncology Institute in the fourth quarter valued at about $36,000. Cetera Investment Advisers raised its holdings in 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 acquiring an additional 4,545 shares in the last quarter. State of Wyoming bought a new stake in Oncology Institute during the second quarter worth about $37,000. Finally, R Squared Ltd acquired a new position in Oncology Institute during the fourth quarter valued at approximately $41,000. 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.