Renaissance Technologies LLC Boosts Stake in The Oncology Institute, Inc. $TOI

Renaissance Technologies LLC boosted its stake in The Oncology Institute, Inc. (NASDAQ:TOI) by 25.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 902,809 shares of the company’s stock after purchasing an additional 180,909 shares during the period. Renaissance Technologies LLC owned about 0.91% of Oncology Institute worth $2,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in Oncology Institute during the fourth quarter worth $31,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Oncology Institute in the fourth quarter valued at $36,000. Cetera Investment Advisers grew its stake 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. State of Wyoming purchased a new stake in shares of Oncology Institute in the 2nd quarter valued at $37,000. Finally, R Squared Ltd acquired a new position in Oncology Institute during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.

Insider Activity at Oncology Institute

In other Oncology Institute news, insider Yale Podnos sold 23,451 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $5.38, for a total transaction of $126,166.38. Following the sale, the insider owned 259,527 shares of the company’s stock, valued at approximately $1,396,255.26. This trade represents a 8.29% decrease 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 18,000 shares of Oncology Institute stock in a transaction dated Tuesday, July 21st. The shares were bought at an average price of $5.27 per share, with a total value of $94,860.00. Following the transaction, the insider directly owned 10,648,858 shares in the company, valued at approximately $56,119,481.66. The trade was a 0.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 131,500 shares of company stock valued at $609,265. 4.40% of the stock is owned by company insiders.

Oncology Institute Price Performance

Oncology Institute stock opened at $5.19 on Monday. The Oncology Institute, Inc. has a 1-year low of $2.32 and a 1-year high of $6.67. The stock has a market cap of $512.58 million, a PE ratio of -14.02 and a beta of 0.39. The stock’s fifty day moving average is $5.23 and its two-hundred day moving average is $3.97.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $161.28 million during the quarter, compared to analyst estimates of $155.28 million. On average, research analysts expect that The Oncology Institute, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.