Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Buys $90,360.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 18,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average cost of $5.02 per share, for a total transaction of $90,360.00. Following the purchase, the insider directly owned 10,615,858 shares in the company, valued at approximately $53,291,607.16. The trade was a 0.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 4th, Jorey Chernett bought 12,000 shares of Oncology Institute stock. The shares were acquired 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 cost of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The shares were acquired at an average price of $4.05 per share, with a total value 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, for a total transaction of $122,700.00.
• On Thursday, April 9th, Jorey Chernett purchased 20,000 shares of Oncology Institute stock. The stock was acquired at an average price of $3.10 per share, for a total transaction of $62,000.00.

Oncology Institute Stock Performance

Shares of NASDAQ TOI traded up $0.21 during trading on Wednesday, hitting $5.25. The company had a trading volume of 454,195 shares, compared to its average volume of 1,871,028. The Oncology Institute, Inc. has a 52 week low of $2.02 and a 52 week high of $5.57. The business’s 50-day moving average is $4.27 and its 200 day moving average is $3.56. The company has a market cap of $518.41 million, a P/E ratio of -14.20 and a beta of 0.37.

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

Institutional Investors Weigh In On Oncology Institute

Several hedge funds have recently bought and sold shares of TOI. Kestra Advisory Services LLC purchased a new position in Oncology Institute during the 4th quarter valued at about $31,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Oncology Institute during the fourth quarter worth approximately $36,000. Cetera Investment Advisers grew its position in 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 in the last quarter. State of Wyoming purchased a new position in Oncology Institute during the second quarter valued at approximately $37,000. Finally, R Squared Ltd acquired a new position in Oncology Institute in the 4th quarter valued at approximately $41,000. 36.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on TOI. Needham & Company LLC boosted their price objective on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. BTIG Research raised their target price on shares of Oncology Institute from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, June 8th. B. Riley Financial lifted their target price on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.75.

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.