Oncology Institute (NASDAQ:STLN) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Oncology Institute (NASDAQ:STLN) had its price target upped by equities research analysts at Needham & Company LLC from $7.00 to $9.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 34.33% from the company’s previous close.

Several other brokerages have also recently weighed in on STLN. Weiss Ratings initiated coverage on Oncology Institute in a report on Thursday, August 6th. They issued a “sell (d-)” rating for the company. BTIG Research upped their target price on Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Lake Street Capital started coverage on Oncology Institute in a research report on Monday, July 6th. They set a “buy” rating and a $10.00 price target for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Oncology Institute Stock Down 3.2%

Oncology Institute stock opened at $6.70 on Wednesday. Oncology Institute has a 1-year low of $2.32 and a 1-year high of $7.13. The company has a fifty day simple moving average of $6.40.

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 business had revenue of $161.28 million for the quarter, compared to analysts’ expectations of $152.80 million. On average, research analysts anticipate that Oncology Institute will post -0.21 earnings per share for the current year.

Insider Activity

In other news, major shareholder Jorey Chernett acquired 12,000 shares of Oncology Institute stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $6.54 per share, for a total transaction of $78,480.00. Following the completion of the acquisition, the insider directly owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. The trade was a 0.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brad Hively sold 298,853 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.51, for a total value of $1,945,533.03. Following the completion of the transaction, the director directly owned 411,976 shares in the company, valued at approximately $2,681,963.76. This represents 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. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

Hedge funds have recently bought and sold shares of the business. State Street Corp acquired a new stake in Oncology Institute in the 2nd quarter worth about $8,432,000. The Manufacturers Life Insurance Company bought a new stake in Oncology Institute in the 2nd quarter valued at about $111,000. WINTON GROUP Ltd acquired a new position in shares of Oncology Institute during the 2nd quarter worth approximately $102,000. Engineers Gate Manager LP acquired a new position in shares of Oncology Institute during the 2nd quarter worth approximately $67,000. Finally, Squarepoint Ops LLC bought a new position in shares of Oncology Institute during the second quarter worth approximately $396,000. 36.86% of the stock is owned by institutional investors.

Oncology Institute Company Profile

The Oncology Institute, Inc is a healthcare services company focused on providing specialized cancer care through community-based oncology practices. Its services generally include cancer diagnosis, treatment planning, chemotherapy and other infusion therapies, radiation referrals, supportive care, and ongoing monitoring for patients with cancer.

The company’s care model is designed to integrate oncologists, advanced practice providers, nurses, and other healthcare professionals while emphasizing coordinated and accessible treatment outside traditional hospital settings.