Oncology Institute (NASDAQ:STLN) Trading Down 4.4% – Here’s Why

Oncology Institute, Inc. (NASDAQ:STLN)’s share price traded down 4.4% during trading on Thursday . The stock traded as low as $6.19 and last traded at $6.27. Approximately 243,959 shares were traded during trading, a decline of 87% from the average daily volume of 1,868,538 shares. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

Separately, Weiss Ratings initiated coverage on shares of Oncology Institute in a research report on Thursday, August 6th. They set a “sell (d-)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Oncology Institute Stock Down 3.8%

The company has a market cap of $623.68 million, a PE ratio of -21.08 and a beta of 0.38.

Oncology Institute (NASDAQ:STLN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $161.28 million during the quarter, compared to the consensus estimate of $152.80 million. As a group, sell-side analysts predict that Oncology Institute, Inc. will post -0.21 EPS for the current year.

Insider Activity

In other Oncology Institute news, major shareholder Jorey Chernett purchased 12,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost 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 in the company, valued at $69,722,011.32. The trade was 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 available through the SEC website. Also, Director Brad Hively sold 298,853 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.51, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

A hedge fund recently bought a new stake in Oncology Institute stock. AXQ Capital LP bought a new position in Oncology Institute, Inc. (NASDAQ:STLN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 22,460 shares of the company’s stock, valued at approximately $122,000. Institutional investors own 36.86% of the company’s stock.

About Oncology Institute

Oncology Institute is a physician-led healthcare company focused on delivering specialized cancer care through an integrated oncology platform. Its services are designed to support patients throughout the cancer-care journey, including diagnosis, treatment planning, chemotherapy and other medical oncology services, supportive care, and ongoing disease management.

The company’s business model emphasizes value-based oncology care, with care coordination and clinical programs intended to improve outcomes while managing the overall cost of treatment.