Oncology Institute (NASDAQ:TOI) Sets New 1-Year High – Here’s What Happened

The Oncology Institute, Inc. (NASDAQ:TOI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $5.91 and last traded at $5.75, with a volume of 521730 shares traded. The stock had previously closed at $5.80.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TOI shares. B. Riley Financial lifted their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Needham & Company LLC lifted their target price on Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. BTIG Research upped their target price on Oncology Institute from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Finally, Lake Street Capital began coverage on Oncology Institute in a report on Monday. They issued a “buy” rating and a $10.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Oncology Institute presently has an average rating of “Moderate Buy” and an average target price of $8.20.

Oncology Institute Stock Performance

The business has a fifty day moving average of $4.67 and a two-hundred day moving average of $3.69. The firm has a market capitalization of $568.82 million, a price-to-earnings ratio of -15.61 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) 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. As a group, sell-side analysts predict that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Yale Podnos sold 23,451 shares of the business’s stock in a transaction 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 sale, the insider directly owned 259,527 shares in the company, valued at $1,396,255.26. The trade was a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohit Kaushal sold 38,433 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the completion of the transaction, the director directly owned 172,583 shares in the company, valued at approximately $604,040.50. This represents a 18.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders purchased 118,500 shares of company stock worth $488,655 and sold 119,170 shares worth $461,183. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

Several institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. acquired a new stake in Oncology Institute in the 1st quarter worth about $131,000. Geode Capital Management LLC increased its holdings in shares of Oncology Institute by 231.7% during the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after purchasing an additional 893,696 shares during the period. Cetera Investment Advisers raised its position in shares of Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after buying an additional 4,545 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Oncology Institute by 51,631.5% in the second quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company’s stock valued at $57,000 after buying an additional 27,881 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of Oncology Institute in the second quarter valued at approximately $92,000. 36.86% of the stock is currently owned by institutional investors and hedge funds.

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.