Oncology Institute (NASDAQ:TOI) Reaches New 12-Month High – Should You Buy?

Shares of The Oncology Institute, Inc. (NASDAQ:TOI) reached a new 52-week high on Wednesday . The company traded as high as $5.91 and last traded at $5.75, with a volume of 521730 shares. The stock had previously closed at $5.80.

Analyst Ratings Changes

TOI has been the subject of a number of analyst reports. 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 research note on Wednesday, June 17th. B. Riley Financial raised their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Lake Street Capital initiated coverage on Oncology Institute in a report on Monday. They set a “buy” rating and a $10.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Finally, BTIG Research increased their price objective on Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.40.

Oncology Institute Price Performance

The firm’s fifty day moving average is $4.76 and its two-hundred day moving average is $3.72. The firm has a market cap of $578.21 million, a price-to-earnings ratio of -15.81 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI) last released its earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million. On average, equities analysts forecast that The Oncology Institute, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Jorey Chernett bought 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $5.02 per share, with a total value of $90,360.00. Following the completion of the purchase, the insider directly owned 10,615,858 shares of the company’s stock, valued at $53,291,607.16. This represents a 0.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Yale Podnos sold 23,451 shares of Oncology Institute stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.38, for a total value of $126,166.38. Following the transaction, the insider directly owned 259,527 shares in the company, valued at approximately $1,396,255.26. The trade was a 8.29% 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. Over the last ninety days, insiders bought 98,500 shares of company stock worth $426,655 and sold 119,170 shares worth $461,183. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oncology Institute

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new stake in shares of Oncology Institute in the 4th quarter worth approximately $31,000. Pekin Hardy Strauss Inc. bought a new stake in Oncology Institute during the fourth quarter worth approximately $36,000. Cetera Investment Advisers grew its position in Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock worth $36,000 after buying an additional 4,545 shares during the last quarter. State of Wyoming acquired a new position in Oncology Institute in the second quarter worth approximately $37,000. Finally, R Squared Ltd acquired a new position in Oncology Institute in the fourth quarter worth approximately $41,000. 36.86% of the stock is owned by institutional investors and hedge funds.

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.