Jorey Chernett Acquires 18,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 18,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average price of $5.02 per share, with a total value of $90,360.00. Following the purchase, the insider owned 10,615,858 shares in the company, valued at $53,291,607.16. The trade was a 0.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, June 4th, Jorey Chernett bought 12,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.75 per share, with a total value of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett bought 33,500 shares of Oncology Institute stock. The stock was purchased at an average price of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett purchased 5,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.05 per share, for a total transaction of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett purchased 30,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.09 per share, for a total transaction of $122,700.00.
• On Thursday, April 9th, Jorey Chernett purchased 20,000 shares of Oncology Institute stock. The shares were purchased at an average price of $3.10 per share, with a total value of $62,000.00.

Oncology Institute Stock Performance

Shares of TOI opened at $5.12 on Friday. The business has a 50-day moving average of $4.34 and a 200 day moving average of $3.59. The Oncology Institute, Inc. has a fifty-two week low of $2.02 and a fifty-two week high of $5.57. The firm has a market cap of $506.06 million, a P/E ratio of -13.84 and a beta of 0.37.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts predict that The Oncology Institute, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BTIG Research raised their price objective on shares of Oncology Institute from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Needham & Company LLC boosted their target price on shares of Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. B. Riley Financial increased their target price on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Oncology Institute has an average rating of “Moderate Buy” and an average price target of $7.75.

Institutional Investors Weigh In On Oncology Institute

Several hedge funds and other institutional investors have recently modified their holdings of TOI. LPL Financial LLC grew its stake in Oncology Institute by 1.5% during the fourth quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock valued at $964,000 after acquiring an additional 3,900 shares in the last quarter. AQR Capital Management LLC lifted its stake in Oncology Institute by 9.1% in the 4th quarter. AQR Capital Management LLC now owns 48,072 shares of the company’s stock worth $171,000 after purchasing an additional 4,007 shares in the last quarter. HighTower Advisors LLC lifted its stake in Oncology Institute by 5.5% in the 4th quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock worth $306,000 after purchasing an additional 4,489 shares in the last quarter. Cetera Investment Advisers boosted 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 valued at $36,000 after purchasing an additional 4,545 shares during the period. Finally, R Squared Ltd boosted its holdings in Oncology Institute by 42.7% in the 1st quarter. R Squared Ltd now owns 16,353 shares of the company’s stock valued at $50,000 after purchasing an additional 4,891 shares during the period. 36.86% of the stock is currently owned by institutional investors.

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.