Oncology Institute (NASDAQ:TOI) Stock Price Up 6.3% – Still a Buy?

The Oncology Institute, Inc. (NASDAQ:TOI) shares were up 6.3% on Wednesday . The stock traded as high as $2.95 and last traded at $2.88. Approximately 1,229,953 shares changed hands during trading, an increase of 57% from the average daily volume of 783,592 shares. The stock had previously closed at $2.71.

Oncology Institute Stock Performance

The stock has a market cap of $217.61 million, a price-to-earnings ratio of -3.69 and a beta of 0.22. The company’s fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $0.68. The company has a debt-to-equity ratio of 5.91, a current ratio of 2.49 and a quick ratio of 2.27.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The business had revenue of $100.27 million during the quarter, compared to the consensus estimate of $109.15 million. Oncology Institute had a negative net margin of 17.63% and a negative return on equity of 186.83%.

Insider Activity at Oncology Institute

In other news, Director Mark L. Pacala bought 90,562 shares of Oncology Institute stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of $1.04 per share, for a total transaction of $94,184.48. Following the purchase, the director now directly owns 224,971 shares in the company, valued at $233,969.84. The trade was a 67.38 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 122,258 shares of company stock valued at $127,148. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Oncology Institute

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Oncology Institute by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 182,000 shares of the company’s stock valued at $56,000 after acquiring an additional 12,000 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Oncology Institute by 190.8% during the 3rd quarter. HighTower Advisors LLC now owns 81,362 shares of the company’s stock worth $27,000 after purchasing an additional 53,382 shares during the period. Jane Street Group LLC boosted its holdings in shares of Oncology Institute by 613.6% in the 4th quarter. Jane Street Group LLC now owns 127,659 shares of the company’s stock worth $39,000 after buying an additional 109,769 shares during the last quarter. Virtu Financial LLC bought a new position in Oncology Institute during the fourth quarter valued at about $41,000. Finally, Tiff Advisory Services LLC boosted its stake in Oncology Institute by 13.2% in the fourth quarter. Tiff Advisory Services LLC now owns 2,979,141 shares of the company’s stock valued at $921,000 after acquiring an additional 346,256 shares during the last quarter. 36.86% of the stock is owned by 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.