Oncology Institute (NASDAQ:TOI) Sets New 12-Month High – Should You Buy?

The Oncology Institute, Inc. (NASDAQ:TOI) shares reached a new 52-week high during mid-day 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.

Analyst Upgrades and Downgrades

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

Oncology Institute Price Performance

The company has a market capitalization of $568.82 million, a price-to-earnings ratio of -15.61 and a beta of 0.36. The firm’s fifty day moving average price is $4.67 and its 200-day moving average price is $3.69.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million for the quarter, compared to the consensus estimate of $142.10 million. On average, research analysts predict that The Oncology Institute, Inc. will post -0.17 earnings per share for the current year.

Insider Activity at Oncology Institute

In other news, Director Mohit Kaushal sold 57,286 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $3.50, for a total transaction of $200,501.00. Following the completion of the transaction, the director owned 211,016 shares of the company’s stock, valued at approximately $738,556. This trade represents a 21.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yale Podnos sold 23,451 shares of Oncology Institute stock in a transaction 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 in the company, valued at approximately $1,396,255.26. This trade represents a 8.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders acquired 118,500 shares of company stock worth $488,655 and sold 119,170 shares worth $461,183. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Oncology Institute by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company’s stock valued at $15,863,000 after buying an additional 264,358 shares during the last quarter. CenterBook Partners LP lifted its stake in shares of Oncology Institute by 12.0% in the fourth quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock worth $10,784,000 after acquiring an additional 324,662 shares during the period. Kanen Wealth Management LLC lifted its stake in shares of Oncology Institute by 61.6% in the fourth quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company’s stock worth $10,712,000 after acquiring an additional 1,134,043 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Oncology Institute by 17.3% in the second quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock valued at $5,163,000 after acquiring an additional 371,005 shares during the last quarter. Finally, Josh Arnold Investment Consultant LLC boosted its holdings in Oncology Institute by 1,104.3% in the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock valued at $8,757,000 after acquiring an additional 2,255,559 shares during the last quarter. 36.86% of the stock is owned by institutional investors.

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.