Oncology Institute (NASDAQ:TOI) Coverage Initiated by Analysts at Lake Street Capital

Research analysts at Lake Street Capital initiated coverage on shares of Oncology Institute (NASDAQ:TOI) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $10.00 price target on the stock. Lake Street Capital’s price objective suggests a potential upside of 89.39% from the company’s current price.

TOI has been the topic of a number of other research reports. BTIG Research boosted their price target on Oncology Institute from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Needham & Company LLC lifted their target price on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, B. Riley Financial boosted their target price on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Five equities research 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 a consensus rating of “Moderate Buy” and an average price target of $8.20.

Oncology Institute Stock Performance

NASDAQ TOI opened at $5.28 on Monday. The firm has a market capitalization of $521.88 million, a P/E ratio of -14.27 and a beta of 0.36. The firm’s fifty day moving average price is $4.57 and its two-hundred day moving average price is $3.66. Oncology Institute has a 1 year low of $2.32 and a 1 year high of $5.82.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. On average, research analysts anticipate that Oncology Institute will post -0.17 EPS for the current fiscal year.

Insider Transactions at Oncology Institute

In related news, Director Mohit Kaushal sold 38,433 shares of Oncology Institute stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $3.50, for a total transaction of $134,515.50. Following the completion of the sale, the director directly owned 172,583 shares of the company’s stock, valued at approximately $604,040.50. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 purchased 18,000 shares of Oncology Institute stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $5.02 per share, with a total value of $90,360.00. Following the completion of the purchase, the insider directly owned 10,615,858 shares in the company, valued at $53,291,607.16. This trade represents a 0.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 118,500 shares of company stock worth $488,655 and sold 119,170 shares worth $461,183. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

Several institutional investors and hedge funds have recently modified their holdings of the business. GatePass Capital LLC acquired a new position in shares of Oncology Institute during the 4th quarter worth approximately $1,282,000. Josh Arnold Investment Consultant LLC increased its holdings in shares of Oncology Institute by 1,104.3% during the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock worth $8,757,000 after purchasing an additional 2,255,559 shares during the period. T3 Companies LLC acquired a new stake in shares of Oncology Institute in the fourth quarter valued at approximately $716,000. CenterBook Partners LP raised its position in shares of Oncology Institute by 12.0% in the fourth quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock valued at $10,784,000 after buying an additional 324,662 shares in the last quarter. Finally, Maven Securities LTD boosted its stake in shares of Oncology Institute by 151.1% in the fourth quarter. Maven Securities LTD now owns 251,128 shares of the company’s stock valued at $894,000 after buying an additional 151,128 shares during the period. 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.