Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Buys 25,000 Shares

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett acquired 25,000 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $3.35 per share, for a total transaction of $83,750.00. Following the completion of the transaction, the insider owned 10,276,929 shares in the company, valued at approximately $34,427,712.15. The trade was a 0.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The stock was acquired at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett purchased 263,000 shares of Oncology Institute stock. The stock was bought at an average price of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Trading Down 3.3%

Shares of Oncology Institute stock opened at $3.21 on Tuesday. The Oncology Institute, Inc. has a 12-month low of $0.97 and a 12-month high of $4.88. The company has a market cap of $317.28 million, a P/E ratio of -5.73 and a beta of 0.14. The company’s fifty day simple moving average is $2.93 and its two-hundred day simple moving average is $3.39.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Oncology Institute

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC bought a new position in Oncology Institute during the 2nd quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new stake in Oncology Institute in the fourth quarter worth $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Oncology Institute in the second quarter worth $32,000. Pekin Hardy Strauss Inc. bought a new position in shares of Oncology Institute during the fourth quarter valued at $36,000. Finally, Cetera Investment Advisers increased its holdings in shares of Oncology Institute by 35.0% during 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. Hedge funds and other 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.