Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Buys 12,000 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 12,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $4.75 per share, with a total value of $57,000.00. Following the purchase, the insider directly owned 10,579,858 shares of the company’s stock, valued at approximately $50,254,325.50. The trade was a 0.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Wednesday, May 20th, Jorey Chernett bought 33,500 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 30,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $4.09 per share, with a total value of $122,700.00.
• On Thursday, April 9th, Jorey Chernett bought 20,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.10 per share, with a total value of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett bought 125,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.11 per share, with a total value of $388,750.00.
• On Friday, March 20th, Jorey Chernett bought 25,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.35 per share, with a total value of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett bought 60,985 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Stock Up 2.7%

Shares of NASDAQ TOI opened at $4.87 on Friday. The company has a market capitalization of $481.35 million, a PE ratio of -13.16 and a beta of 0.37. The firm has a fifty day simple moving average of $3.78 and a 200 day simple moving average of $3.40. The Oncology Institute, Inc. has a twelve month low of $2.02 and a twelve month high of $5.17.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TOI. Kestra Advisory Services LLC bought a new position in shares of Oncology Institute in the 4th quarter worth $31,000. Pekin Hardy Strauss Inc. bought a new position in shares of Oncology Institute in the 4th quarter worth $36,000. R Squared Ltd bought a new position in shares of Oncology Institute in the 4th quarter worth $41,000. Prelude Capital Management LLC bought a new position in shares of Oncology Institute in the 3rd quarter worth $41,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Oncology Institute by 141.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company’s stock worth $42,000 after buying an additional 7,091 shares during the last quarter. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

About Oncology Institute

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.