Oncology Institute (NASDAQ:STLN) Stock Jumps 6.1% – Here’s Why

Oncology Institute, Inc. (NASDAQ:STLN) shares rose 6.1% during mid-day trading on Friday. The company traded as high as $6.56 and last traded at $6.56. 133,504 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,771,716 shares. The stock had previously closed at $6.18.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. BTIG Research boosted their target price on Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Lake Street Capital assumed coverage on shares of Oncology Institute in a research note on Monday, July 6th. They set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC upped their price objective 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. Finally, Weiss Ratings began coverage on shares of Oncology Institute in a research report on Thursday, August 6th. They issued a “sell (d-)” rating on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Oncology Institute presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Oncology Institute Trading Up 9.1%

The stock has a market cap of $666.68 million, a P/E ratio of -22.45 and a beta of 0.39. The company’s 50 day moving average is $6.37.

Oncology Institute (NASDAQ:STLN) last announced its quarterly earnings data 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 predict that Oncology Institute, Inc. will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Oncology Institute

In other Oncology Institute news, major shareholder Jorey Chernett acquired 18,000 shares of Oncology Institute stock in a transaction that occurred on Tuesday, July 21st. The stock was bought at an average cost of $5.27 per share, for a total transaction of $94,860.00. Following the acquisition, the insider owned 10,648,858 shares of the company’s stock, valued at $56,119,481.66. This represents a 0.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brad Hively sold 298,853 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was 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 of the company’s stock, valued at approximately $2,681,963.76. This trade represents a 42.04% 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. 4.40% of the stock is owned by insiders.

Institutional Trading of Oncology Institute

A number of large investors have recently made changes to their positions in STLN. BlackRock Inc. bought a new position in Oncology Institute during the second quarter valued at approximately $25,787,000. Josh Arnold Investment Consultant LLC boosted its stake in shares of Oncology Institute by 1,104.3% in the 4th quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock worth $8,757,000 after buying an additional 2,255,559 shares during the last quarter. State Street Corp bought a new stake in shares of Oncology Institute in the second quarter worth $8,432,000. Renaissance Technologies LLC lifted its holdings in Oncology Institute by 25.1% in the first quarter. Renaissance Technologies LLC now owns 902,809 shares of the company’s stock valued at $2,772,000 after acquiring an additional 180,909 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new position in Oncology Institute in the second quarter worth about $2,444,000. 36.86% of the stock is currently owned by institutional investors.

About Oncology Institute

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.