The Oncology Institute, Inc. (NASDAQ:TOI) Sees Significant Growth in Short Interest

The Oncology Institute, Inc. (NASDAQ:TOI) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,870,000 shares, a growth of 26.4% from the April 30th total of 1,480,000 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 1,230,000 shares, the days-to-cover ratio is presently 1.5 days.

Insider Transactions at Oncology Institute

In other news, Director Mark L. Pacala acquired 90,562 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average cost of $1.04 per share, with a total value of $94,184.48. Following the transaction, the director now owns 224,971 shares of the company’s stock, valued at $233,969.84. This trade represents a 67.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Growth I. L.P. M33 sold 203,532 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $2.71, for a total transaction of $551,571.72. Following the sale, the director now directly owns 1,349,048 shares in the company, valued at $3,655,920.08. This trade represents a 13.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 122,258 shares of company stock valued at $127,148 in the last three months. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oncology Institute

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in Oncology Institute by 613.6% during the 4th quarter. Jane Street Group LLC now owns 127,659 shares of the company’s stock worth $39,000 after acquiring an additional 109,769 shares during the period. Virtu Financial LLC bought a new stake in Oncology Institute during the 4th quarter worth approximately $41,000. Renaissance Technologies LLC raised its position in shares of Oncology Institute by 7.1% during the fourth quarter. Renaissance Technologies LLC now owns 182,000 shares of the company’s stock valued at $56,000 after buying an additional 12,000 shares during the last quarter. XTX Topco Ltd raised its position in shares of Oncology Institute by 49.5% during the first quarter. XTX Topco Ltd now owns 55,698 shares of the company’s stock valued at $63,000 after buying an additional 18,448 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Oncology Institute during the first quarter valued at approximately $71,000. Institutional investors own 36.86% of the company’s stock.

Oncology Institute Price Performance

Shares of NASDAQ:TOI opened at $3.20 on Thursday. The firm’s 50 day moving average price is $2.45 and its 200-day moving average price is $1.22. Oncology Institute has a twelve month low of $0.13 and a twelve month high of $3.50. The company has a quick ratio of 2.27, a current ratio of 2.49 and a debt-to-equity ratio of 5.91. The stock has a market capitalization of $285.55 million, a PE ratio of -4.10 and a beta of 0.04.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.18) earnings per share for the quarter. Oncology Institute had a negative return on equity of 186.83% and a negative net margin of 17.63%. The business had revenue of $104.41 million during the quarter.

Analyst Ratings Changes

Separately, BTIG Research initiated coverage on shares of Oncology Institute in a research note on Thursday, May 15th. They set a “buy” rating and a $7.00 target price on the 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.