Key Points
- Major shareholder Jorey Chernett sold 2.85 million Oncology Institute shares on November 6 for about $11.4 million, cutting his stake by 26.74% to roughly 7.81 million shares. He bought 48,294 shares three days later, a much smaller offset.
- The company reported a quarterly loss of $0.13 per share, missing analysts’ expected loss of $0.07; revenue was $169.77 million.
- Analyst views were mixed but leaned positive: four analysts rated the stock Buy and one Sell, for a “Moderate Buy” consensus and a $9.25 average price target. Recent targets ranged from $8 to $10.
Oncology Institute, Inc. (NASDAQ:STLN - Get Free Report) major shareholder Jorey Chernett sold 2,851,061 shares of the firm's stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $3.99, for a total value of $11,375,733.39. Following the transaction, the insider directly owned 7,809,797 shares in the company, valued at $31,161,090.03. This trade represents a 26.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 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 Monday, November 9th, Jorey Chernett acquired 48,294 shares of Oncology Institute stock. The stock was bought at an average price of $3.65 per share, for a total transaction of $176,273.10.
- On Friday, August 14th, Jorey Chernett bought 12,000 shares of Oncology Institute stock. The stock was bought at an average cost of $6.54 per share, with a total value of $78,480.00.
Oncology Institute Stock Performance
NASDAQ STLN opened at $4.34 on Wednesday. The company has a market cap of $428.97 million, a price-to-earnings ratio of -14.97 and a beta of 0.44. Oncology Institute, Inc. has a 1-year low of $2.32 and a 1-year high of $7.13. The firm has a 50-day moving average of $6.36.
Oncology Institute (NASDAQ:STLN - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $169.77 million during the quarter. On average, sell-side analysts anticipate that Oncology Institute, Inc. will post -0.21 earnings per share for the current year.
Institutional Trading of Oncology Institute
Several hedge funds and other institutional investors have recently made changes to their positions in STLN. Legal & General Group Plc bought a new position in Oncology Institute during the 2nd quarter valued at approximately $41,000. AMG National Trust Bank bought a new stake in Oncology Institute in the second quarter worth $54,000. Engineers Gate Manager LP bought a new stake in Oncology Institute in the second quarter worth $67,000. Fermata Advisors LLC bought a new stake in Oncology Institute in the second quarter worth $70,000. Finally, Bank of America Corp DE grew its stake in shares of Oncology Institute by 36.6% in the first quarter. Bank of America Corp DE now owns 63,439 shares of the company's stock worth $195,000 after acquiring an additional 16,991 shares during the last quarter. Hedge funds and other institutional investors own 36.86% of the company's stock.
Analyst Ratings Changes
Several brokerages have commented on STLN. B. Riley Financial restated a "buy" rating and issued a $10.00 price objective (down from $11.00) on shares of Oncology Institute in a report on Friday, November 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a report on Tuesday, November 3rd. Lake Street Capital decreased their price target on shares of Oncology Institute from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, November 6th. Needham & Company LLC increased their price target on shares of Oncology Institute from $7.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, October 14th. Finally, BTIG Research lifted their price target on shares of Oncology Institute from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, November 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.25.
Read Our Latest Stock Analysis on STLN
Key Oncology Institute News
Here are the key news stories impacting Oncology Institute this week:
- Positive Sentiment: Investors bought 10,914 call options on Tuesday, about 365% above the average daily volume. The activity may indicate increased bullish speculation, though options trading does not guarantee future performance.
- Positive Sentiment: B. Riley reiterated its “Buy” rating, and another report said the firm raised its price target to $10.00. B. Riley Buy rating article Price target increase article
- Neutral Sentiment: Lake Street Capital lowered its price target from $10 to $8 but maintained a “Buy” rating. The lower target tempers the bullish view, while the rating remains positive. Lake Street Capital rating information
- Neutral Sentiment: A short-interest report listed zero shares sold short as of November 10, suggesting no reported short-position overhang; the report’s description of a large increase conflicts with that figure.
- Negative Sentiment: Major shareholder Jorey Chernett sold about 2.85 million shares for roughly $11.4 million on November 6, a 26.74% reduction in his holding. He later bought 48,294 shares on November 9, a much smaller purchase that only partly offsets the sale. SEC filing on insider transactions
About Oncology Institute
(
Get Free Report)
The Oncology Institute is a physician-led provider of cancer care. Its services include medical oncology and hematology consultations, cancer treatment and infusion services, pharmacy support, and access to clinical trials. The company combines community-based clinics with care coordination and value-based care programs intended to support patients throughout treatment. It serves patients in several U.S. states, including California, Nevada, Arizona, and Florida. Founded in 2007, The Oncology Institute has expanded its network of oncology clinics and related services to provide cancer care closer to where patients live.
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