Oncology Institute (NASDAQ:TOI) Hits New 1-Year High on Insider Buying Activity

The Oncology Institute, Inc. (NASDAQ:TOI)’s share price reached a new 52-week high during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $5.09 and last traded at $5.0740, with a volume of 1325600 shares. The stock had previously closed at $4.74.

Specifically, major shareholder Jorey Chernett bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $4.75 per share, for a total transaction of $57,000.00. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. B. Riley Financial increased their target price on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Finally, BTIG Research restated a “buy” rating and set a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Oncology Institute Trading Up 6.6%

The firm has a market cap of $499.64 million, a PE ratio of -13.82 and a beta of 0.37. The firm has a fifty day simple moving average of $3.75 and a two-hundred day simple moving average of $3.39.

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

Institutional Trading of Oncology Institute

A number of institutional investors and hedge funds have recently modified their holdings of TOI. CenterBook Partners LP lifted its position in shares of Oncology Institute by 277.8% in the third quarter. CenterBook Partners LP now owns 2,704,650 shares of the company’s stock valued at $9,439,000 after acquiring an additional 1,988,751 shares in the last quarter. GatePass Capital LLC bought a new stake in Oncology Institute during the fourth quarter worth approximately $1,282,000. EHP Funds Inc. bought a new stake in Oncology Institute during the third quarter worth approximately $852,000. Mount Lucas Management LP boosted its position in shares of Oncology Institute by 108.4% during the third quarter. Mount Lucas Management LP now owns 160,500 shares of the company’s stock valued at $560,000 after buying an additional 83,500 shares during the period. Finally, Prelude Capital Management LLC purchased a new position in shares of Oncology Institute during the third quarter valued at approximately $41,000. Institutional investors 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.