Oncology Institute Sees Unusually Large Options Volume (NASDAQ:TOI)

The Oncology Institute, Inc. (NASDAQ:TOI) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 25,717 call options on the company. This is an increase of 2,397% compared to the typical volume of 1,030 call options.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TOI. BTIG Research lifted their price objective on shares of Oncology Institute from $7.00 to $8.00 and gave the stock 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. B. Riley Financial raised 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. Lake Street Capital initiated coverage on Oncology Institute in a research report on Monday. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC upped their target price on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Oncology Institute presently has a consensus rating of “Moderate Buy” and an average price target of $8.20.

Insiders Place Their Bets

In related news, insider Yale Podnos sold 23,451 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.38, for a total value of $126,166.38. Following the transaction, the insider owned 259,527 shares in the company, valued at approximately $1,396,255.26. This represents a 8.29% decrease in their position. The sale was disclosed in a 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, major shareholder Jorey Chernett bought 33,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $4.07 per share, for a total transaction of $136,345.00. Following the transaction, the insider directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 98,500 shares of company stock valued at $426,655 and sold 119,170 shares valued at $461,183. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Oncology Institute

A number of institutional investors have recently made changes to their positions in TOI. LPL Financial LLC lifted its position in shares of Oncology Institute by 1.5% during the 4th quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock valued at $964,000 after acquiring an additional 3,900 shares during the period. AQR Capital Management LLC grew its holdings in Oncology Institute by 9.1% in the fourth quarter. AQR Capital Management LLC now owns 48,072 shares of the company’s stock worth $171,000 after purchasing an additional 4,007 shares during the period. HighTower Advisors LLC increased its stake in Oncology Institute by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock valued at $306,000 after purchasing an additional 4,489 shares in the last quarter. Cetera Investment Advisers raised its holdings 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 valued at $36,000 after purchasing an additional 4,545 shares during the period. Finally, R Squared Ltd raised its holdings in shares of Oncology Institute by 42.7% during the first quarter. R Squared Ltd now owns 16,353 shares of the company’s stock valued at $50,000 after purchasing an additional 4,891 shares during the period. Institutional investors own 36.86% of the company’s stock.

Oncology Institute Stock Up 3.5%

NASDAQ TOI traded up $0.20 on Thursday, hitting $5.84. The company’s stock had a trading volume of 1,091,306 shares, compared to its average volume of 1,898,188. Oncology Institute has a 1-year low of $2.32 and a 1-year high of $6.11. The company’s 50-day moving average is $4.72 and its 200 day moving average is $3.71. The firm has a market cap of $577.72 million, a PE ratio of -15.80 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million. On average, equities analysts expect that Oncology Institute will post -0.17 EPS for the current year.

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.