BTIG Research Forecasts Strong Price Appreciation for Oncology Institute (NASDAQ:TOI) Stock

Oncology Institute (NASDAQ:TOI) had its target price hoisted by research analysts at BTIG Research from $8.00 to $9.00 in a research report issued on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 53.98% from the company’s previous close.

Several other equities research analysts also recently commented on TOI. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Lake Street Capital began coverage on shares of Oncology Institute in a research report on Monday. They set a “buy” rating and a $10.00 target price for the company. Needham & Company LLC raised their target price on shares of Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, B. Riley Financial upped their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.40.

Oncology Institute Trading Up 3.5%

Shares of NASDAQ:TOI traded up $0.20 during trading on Thursday, reaching $5.84. 1,109,902 shares of the stock were exchanged, compared to its average volume of 1,898,905. The firm has a market cap of $577.72 million, a PE ratio of -15.80 and a beta of 0.36. Oncology Institute has a 12 month low of $2.32 and a 12 month high of $6.11. The stock has a 50-day moving average price of $4.72 and a 200-day moving average price of $3.71.

Oncology Institute (NASDAQ:TOI) last posted 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 business had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. On average, sell-side analysts expect that Oncology Institute will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mohit Kaushal sold 57,286 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $3.50, for a total transaction of $200,501.00. Following the completion of the transaction, the director owned 211,016 shares of the company’s stock, valued at $738,556. This trade represents a 21.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yale Podnos sold 23,451 shares of Oncology Institute stock in a transaction on Monday, June 8th. The shares were sold at an average price of $5.38, for a total value of $126,166.38. Following the transaction, the insider owned 259,527 shares of the company’s stock, valued at $1,396,255.26. The trade was a 8.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders acquired 98,500 shares of company stock worth $426,655 and sold 119,170 shares worth $461,183. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

Several large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new position in Oncology Institute in the 4th quarter worth about $31,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Oncology Institute during the fourth quarter valued at approximately $36,000. Cetera Investment Advisers raised its holdings in Oncology Institute by 35.0% in the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after acquiring an additional 4,545 shares during the last quarter. State of Wyoming bought a new position in Oncology Institute in the 2nd quarter valued at approximately $37,000. Finally, R Squared Ltd purchased a new stake in Oncology Institute during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.

About Oncology Institute

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.