Needham & Company LLC Raises Oncology Institute (NASDAQ:TOI) Price Target to $7.00

Oncology Institute (NASDAQ:TOI) had its price target upped by Needham & Company LLC from $5.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 37.25% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. B. Riley Financial increased their price objective 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. BTIG Research increased their price objective on shares of Oncology Institute from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Oncology Institute Price Performance

TOI opened at $5.10 on Wednesday. Oncology Institute has a 12 month low of $2.02 and a 12 month high of $5.57. The stock has a market cap of $504.08 million, a P/E ratio of -13.78 and a beta of 0.37. The stock’s 50 day moving average price is $4.07 and its 200 day moving average price is $3.48.

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

Insider Activity at Oncology Institute

In related news, Director Mohit Kaushal sold 38,433 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the completion of the sale, the director owned 172,583 shares in the company, valued at approximately $604,040.50. This represents a 18.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yale Podnos sold 23,451 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $5.38, for a total transaction of $126,166.38. Following the completion of the sale, the insider owned 259,527 shares of the company’s stock, valued at approximately $1,396,255.26. This trade represents 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 250,500 shares of company stock valued at $870,795 and sold 119,170 shares valued at $461,183. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Oncology Institute

Several hedge funds have recently made changes to their positions in TOI. Josh Arnold Investment Consultant LLC lifted its position in shares of Oncology Institute by 1,104.3% in the 4th quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock valued at $8,757,000 after acquiring an additional 2,255,559 shares in the last quarter. CenterBook Partners LP increased its stake in Oncology Institute by 277.8% in the 3rd quarter. CenterBook Partners LP now owns 2,704,650 shares of the company’s stock valued at $9,439,000 after buying an additional 1,988,751 shares during the period. Kanen Wealth Management LLC acquired a new position in Oncology Institute in the 3rd quarter valued at approximately $6,421,000. Marshall Wace LLP acquired a new position in Oncology Institute in the 2nd quarter valued at approximately $3,028,000. Finally, Geode Capital Management LLC increased its stake in Oncology Institute by 231.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock valued at $2,623,000 after buying an additional 893,696 shares during the period. 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.