Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Buys 60,985 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 60,985 shares of Oncology Institute stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $3.29 per share, with a total value of $200,640.65. Following the transaction, the insider directly owned 10,176,929 shares in the company, valued at approximately $33,482,096.41. The trade was a 0.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Trading Up 5.3%

Shares of NASDAQ TOI opened at $3.59 on Wednesday. The Oncology Institute, Inc. has a 12-month low of $0.65 and a 12-month high of $4.88. The firm has a market capitalization of $353.18 million, a price-to-earnings ratio of -6.41 and a beta of 0.14. The firm has a 50 day moving average of $2.99 and a 200 day moving average of $3.39.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $141.96 million for the quarter, compared to the consensus estimate of $139.78 million. Oncology Institute had a negative net margin of 11.45% and a negative return on equity of 1,527.21%.

Institutional Trading of Oncology Institute

Several institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC purchased a new position in shares of Oncology Institute during the 2nd quarter valued at $25,000. Kestra Advisory Services LLC purchased a new stake in Oncology Institute in the 4th quarter worth $31,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Oncology Institute during the second quarter valued at about $32,000. Pekin Hardy Strauss Inc. bought a new stake in Oncology Institute during the fourth quarter valued at about $36,000. Finally, Cetera Investment Advisers lifted 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 acquiring an additional 4,545 shares in the last quarter. 36.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TOI. B. Riley Financial lifted their target price on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, March 13th. BTIG Research restated a “buy” rating and issued a $7.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research note on Wednesday, January 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Oncology Institute in a research report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

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.