Jorey Chernett Acquires 18,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were purchased at an average price of $5.27 per share, for a total transaction of $94,860.00. Following the purchase, the insider directly owned 10,648,858 shares in the company, valued at $56,119,481.66. The trade was a 0.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, July 10th, Jorey Chernett acquired 15,000 shares of Oncology Institute stock. The stock was purchased at an average price of $5.85 per share, with a total value of $87,750.00.
• On Tuesday, June 23rd, Jorey Chernett acquired 18,000 shares of Oncology Institute stock. The stock was purchased at an average price of $5.02 per share, with a total value of $90,360.00.
• On Thursday, June 4th, Jorey Chernett acquired 12,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.75 per share, with a total value of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett bought 33,500 shares of Oncology Institute stock. The shares were acquired at an average price of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $4.05 per share, for a total transaction of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett purchased 30,000 shares of Oncology Institute stock. The stock was acquired at an average price of $4.09 per share, with a total value of $122,700.00.

Oncology Institute Price Performance

Shares of NASDAQ:TOI opened at $4.77 on Thursday. The stock has a market cap of $471.47 million, a P/E ratio of -12.89 and a beta of 0.36. The firm has a fifty day moving average price of $5.16 and a 200 day moving average price of $3.89. The Oncology Institute, Inc. has a 1-year low of $2.32 and a 1-year high of $6.67.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to analysts’ expectations of $142.10 million. Sell-side analysts expect that The Oncology Institute, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on TOI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research report on Friday, July 17th. BTIG Research increased their price objective on Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Lake Street Capital started coverage on Oncology Institute in a research note on Monday, July 6th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Needham & Company LLC boosted their target price on Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Oncology Institute presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new stake in Oncology Institute in the first quarter valued at about $131,000. Geode Capital Management LLC increased its position in Oncology Institute by 231.7% during the 2nd 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 stake in shares of Oncology Institute by 35.0% during the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after buying an additional 4,545 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Oncology Institute by 51,631.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company’s stock worth $57,000 after buying an additional 27,881 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Oncology Institute in the 2nd 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.