Oncology Institute (NASDAQ:STLN) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Oncology Institute, Inc. (NASDAQ:STLN) shares passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $6.47 and traded as high as $6.63. Oncology Institute shares last traded at $6.59, with a volume of 1,314,776 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on STLN shares. BTIG Research upped their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings assumed coverage on Oncology Institute in a research report on Thursday, August 6th. They set a “sell (d-)” rating on the stock. Needham & Company LLC lifted their price target on Oncology Institute from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, Lake Street Capital started coverage on Oncology Institute in a research note on Monday, July 6th. They issued a “buy” rating and a $10.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Oncology Institute Trading Up 0.2%

The business’s 50 day simple moving average is $6.47.

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

Insider Transactions at Oncology Institute

In related news, Director Brad Hively sold 298,853 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 411,976 shares of the company’s stock, valued at approximately $2,681,963.76. This trade represents a 42.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett purchased 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $6.54 per share, for a total transaction of $78,480.00. Following the completion of the purchase, the insider directly owned 10,660,858 shares in the company, valued at $69,722,011.32. This represents a 0.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Oncology Institute

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Oncology Institute in the second quarter worth about $25,787,000. State Street Corp purchased a new stake in Oncology Institute during the 2nd quarter valued at about $8,432,000. Manatuck Hill Partners LLC acquired a new stake in Oncology Institute in the 2nd quarter valued at about $2,444,000. Walleye Capital LLC acquired a new stake in Oncology Institute in the 2nd quarter valued at about $2,421,000. Finally, Bank of America Corp DE acquired a new stake in Oncology Institute in the 2nd quarter valued at about $2,129,000. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

Oncology Institute Company Profile

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals.

The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.