Jorey Chernett Acquires 75,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 75,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $3.42 per share, for a total transaction of $256,500.00. Following the acquisition, the insider owned 10,251,929 shares of the company’s stock, valued at approximately $35,061,597.18. This represents a 0.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The stock was bought at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The stock was bought at an average price of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Trading Up 0.3%

NASDAQ:TOI opened at $3.60 on Thursday. The Oncology Institute, Inc. has a twelve month low of $0.83 and a twelve month high of $4.88. The company has a market cap of $354.17 million, a PE ratio of -6.43 and a beta of 0.14. The company’s 50 day moving average is $2.98 and its two-hundred day moving average is $3.39.

Oncology Institute (NASDAQ:TOI) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Oncology Institute had a negative net margin of 11.45% and a negative return on equity of 1,527.21%. The business had revenue of $141.96 million during the quarter, compared to analysts’ expectations of $139.78 million.

Analyst Ratings Changes

A number of brokerages recently issued reports on TOI. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research note on Wednesday, January 21st. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Oncology Institute in a research note on Monday, March 9th. B. Riley Financial increased their price objective on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Finally, BTIG Research restated a “buy” rating and issued a $7.00 price objective on shares of Oncology Institute in a research note on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Institutional Trading of Oncology Institute

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC acquired a new position in Oncology Institute during the second quarter valued at $25,000. Kestra Advisory Services LLC purchased a new stake in Oncology Institute in the fourth quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Oncology Institute during the 2nd quarter worth about $32,000. Pekin Hardy Strauss Inc. acquired a new stake in Oncology Institute during the 4th quarter worth about $36,000. Finally, Cetera Investment Advisers raised its stake in shares of Oncology Institute by 35.0% during the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after buying an additional 4,545 shares during the last quarter. Institutional investors and hedge funds 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.