Oncology Institute (NASDAQ:STLN) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

Oncology Institute, Inc. (NASDAQ:STLN)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $6.48 and traded as high as $7.04. Oncology Institute shares last traded at $6.94, with a volume of 1,688,077 shares trading hands.

Analyst Upgrades and Downgrades

STLN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a report on Tuesday. Needham & Company LLC upped their price objective on Oncology Institute from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, BTIG Research increased their price objective on Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Oncology Institute Stock Up 9.5%

The firm’s 50-day simple moving average is $6.48. The company has a market capitalization of $685.95 million, a PE ratio of -23.13 and a beta of 0.44.

Oncology Institute (NASDAQ:STLN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $161.28 million for the quarter, compared to analysts’ expectations of $152.80 million. Sell-side analysts anticipate that Oncology Institute, Inc. will post -0.21 earnings per share for the current year.

Insider Activity

In other news, major shareholder Jorey Chernett bought 12,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $6.54 per share, for a total transaction of $78,480.00. Following the completion of the transaction, the insider owned 10,660,858 shares of the company’s stock, valued at approximately $69,722,011.32. This trade represents a 0.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brad Hively sold 298,853 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.51, for a total value of $1,945,533.03. Following the completion of the sale, the director directly owned 411,976 shares of the company’s stock, valued at $2,681,963.76. The trade was a 42.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Oncology Institute

Large investors have recently made changes to their positions in the company. State Street Corp purchased a new position in Oncology Institute during the 2nd quarter worth approximately $8,432,000. The Manufacturers Life Insurance Company purchased a new stake in Oncology Institute in the second quarter valued at approximately $111,000. WINTON GROUP Ltd purchased a new stake in Oncology Institute in the second quarter valued at approximately $102,000. Engineers Gate Manager LP acquired a new stake in shares of Oncology Institute in the second quarter valued at approximately $67,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Oncology Institute in the second quarter valued at approximately $396,000. 36.86% of the stock is owned by institutional investors and hedge funds.

Oncology Institute Company Profile

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.