BTIG Research Increases Oncology Institute (NASDAQ:TOI) Price Target to $8.00

Oncology Institute (NASDAQ:TOI) had its price target lifted by stock analysts at BTIG Research from $7.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 64.27% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Oncology Institute in a research report on Monday, March 9th. Finally, B. Riley Financial increased their target price on shares of Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Oncology Institute Price Performance

Shares of TOI stock opened at $4.87 on Monday. The company has a market capitalization of $481.35 million, a P/E ratio of -13.16 and a beta of 0.37. The company’s 50-day simple moving average is $3.78 and its two-hundred day simple moving average is $3.39. Oncology Institute has a one year low of $2.02 and a one year high of $5.17.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $142.10 million. On average, research analysts expect that Oncology Institute will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oncology Institute news, major shareholder Jorey Chernett acquired 12,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $4.75 per share, for a total transaction of $57,000.00. Following the completion of the purchase, the insider directly owned 10,579,858 shares of the company’s stock, valued at $50,254,325.50. The trade was a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mohit Kaushal sold 38,433 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $3.50, for a total transaction of $134,515.50. Following the completion of the sale, the director owned 172,583 shares in the company, valued at $604,040.50. The trade was a 18.21% decrease in their position. 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 bought 649,485 shares of company stock worth $2,095,896 in the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Oncology Institute

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in Oncology Institute during the fourth quarter valued at $31,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Oncology Institute in the fourth quarter valued at about $36,000. Cetera Investment Advisers grew its position in shares of Oncology Institute by 35.0% in the second 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. State of Wyoming acquired a new stake in shares of Oncology Institute in the second quarter valued at about $37,000. Finally, R Squared Ltd acquired a new stake in shares of Oncology Institute in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 36.86% of the company’s stock.

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.