Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Buys 15,000 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett bought 15,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were bought at an average cost of $5.85 per share, with a total value of $87,750.00. Following the transaction, the insider directly owned 10,630,858 shares of the company’s stock, valued at approximately $62,190,519.30. This trade represents a 0.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, June 23rd, Jorey Chernett purchased 18,000 shares of Oncology Institute stock. The shares were bought at an average price of $5.02 per share, for a total transaction of $90,360.00.
• On Thursday, June 4th, Jorey Chernett purchased 12,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.75 per share, for a total transaction of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett purchased 33,500 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 5,000 shares of Oncology Institute stock. The stock was purchased at an average price of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett acquired 30,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.09 per share, with a total value of $122,700.00.

Oncology Institute Trading Up 6.1%

NASDAQ:TOI opened at $6.25 on Tuesday. The Oncology Institute, Inc. has a 1 year low of $2.32 and a 1 year high of $6.32. The firm’s fifty day simple moving average is $4.85 and its 200 day simple moving average is $3.76. The firm has a market capitalization of $617.75 million, a PE ratio of -16.89 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last announced its earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate 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. As a group, analysts anticipate that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Oncology Institute

Several hedge funds and other institutional investors have recently bought and sold shares of TOI. Fermata Advisors LLC bought a new position in shares of Oncology Institute during the 2nd quarter worth about $70,000. Bank of America Corp DE raised its position 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 valued at $195,000 after buying an additional 16,991 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Oncology Institute in the first quarter valued at about $154,000. Royal Bank of Canada lifted its stake in shares of Oncology Institute by 335.9% in the first quarter. Royal Bank of Canada now owns 22,257 shares of the company’s stock valued at $68,000 after buying an additional 17,151 shares during the period. Finally, FourWorld Capital Management LLC lifted its stake in shares of Oncology Institute by 30.4% in the first quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company’s stock valued at $1,533,000 after buying an additional 116,496 shares during the period. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on TOI shares. 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 research report on Wednesday, June 17th. Lake Street Capital assumed coverage on Oncology Institute in a report on Monday, July 6th. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Finally, BTIG Research lifted their price target on Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.40.

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.