Oncology Institute (NASDAQ:STLN) Stock: Insider Jorey Chernett Purchases 48,294 Shares

Oncology Institute, Inc. (NASDAQ:STLN) major shareholder Jorey Chernett acquired 48,294 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average price of $3.65 per share, for a total transaction of $176,273.10. Following the acquisition, the insider directly owned 7,858,091 shares in the company, valued at approximately $28,682,032.15. This trade represents a 0.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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, November 6th, Jorey Chernett sold 2,851,061 shares of Oncology Institute stock. The shares were sold at an average price of $3.99, for a total value of $11,375,733.39.
• On Friday, August 14th, Jorey Chernett bought 12,000 shares of Oncology Institute stock. The shares were purchased at an average price of $6.54 per share, with a total value of $78,480.00.

Oncology Institute Price Performance

NASDAQ STLN traded up $0.34 during trading on Tuesday, hitting $4.34. The stock had a trading volume of 6,346,120 shares, compared to its average volume of 1,896,865. The company has a market capitalization of $428.97 million, a P/E ratio of -14.97 and a beta of 0.44. The business’s 50 day moving average is $6.36. Oncology Institute, Inc. has a twelve month low of $2.32 and a twelve month high of $7.13.

Oncology Institute (NASDAQ:STLN) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $169.77 million for the quarter. On average, equities research analysts forecast that Oncology Institute, Inc. will post -0.21 EPS for the current year.

Analyst Ratings Changes

STLN has been the topic of a number of research reports. B. Riley Financial reiterated a “buy” rating and set a $10.00 target price (down from $11.00) on shares of Oncology Institute in a report on Friday. Needham & Company LLC raised their price target on shares of Oncology Institute from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Lake Street Capital dropped their price target on shares of Oncology Institute from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Tuesday, November 3rd. Finally, BTIG Research upped their price objective on Oncology Institute from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

Key Oncology Institute News

Here are the key news stories impacting Oncology Institute this week:

• Positive Sentiment: Investors bought 10,914 call options on Tuesday, about 365% above the average daily volume. The activity may indicate increased bullish speculation, though options trading does not guarantee future performance.
• Positive Sentiment: B. Riley reiterated its “Buy” rating, and another report said the firm raised its price target to $10.00. B. Riley Buy rating article Price target increase article
• Neutral Sentiment: Lake Street Capital lowered its price target from $10 to $8 but maintained a “Buy” rating. The lower target tempers the bullish view, while the rating remains positive. Lake Street Capital rating information
• Neutral Sentiment: A short-interest report listed zero shares sold short as of November 10, suggesting no reported short-position overhang; the report’s description of a large increase conflicts with that figure.
• Negative Sentiment: Major shareholder Jorey Chernett sold about 2.85 million shares for roughly $11.4 million on November 6, a 26.74% reduction in his holding. He later bought 48,294 shares on November 9, a much smaller purchase that only partly offsets the sale. SEC filing on insider transactions

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of Oncology Institute in the 2nd quarter valued at $41,000. AMG National Trust Bank purchased a new stake in shares of Oncology Institute during the 2nd quarter worth $54,000. Engineers Gate Manager LP acquired a new position in shares of Oncology Institute during the second quarter worth $67,000. Fermata Advisors LLC acquired a new position in shares of Oncology Institute during the second quarter worth $70,000. Finally, Bank of America Corp DE grew its stake in shares of Oncology Institute by 36.6% during the first quarter. Bank of America Corp DE now owns 63,439 shares of the company’s stock worth $195,000 after purchasing an additional 16,991 shares in the last quarter. Institutional investors and hedge funds own 36.86% of the company’s stock.

About Oncology Institute

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals. The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.