Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Purchases 125,000 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) major shareholder Jorey Chernett acquired 125,000 shares of the company's stock in a transaction dated Tuesday, March 24th. The shares were bought at an average cost of $3.11 per share, with a total value of $388,750.00. Following the completion of the acquisition, the insider directly owned 10,401,929 shares in the company, valued at $32,349,999.19. The trade was a 1.22% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Friday, March 20th, Jorey Chernett bought 25,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The shares were purchased at an average price of $3.29 per share, for a total transaction of $200,640.65.
• On Friday, March 13th, Jorey Chernett purchased 263,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Trading Down 0.3%

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TOI opened at $3.12 on Thursday. The stock has a 50-day moving average price of $2.92 and a 200-day moving average price of $3.39. The Oncology Institute, Inc. has a 12-month low of $0.97 and a 12-month high of $4.88. The stock has a market capitalization of $308.38 million, a P/E ratio of -5.57 and a beta of 0.14.

Oncology Institute (NASDAQ:TOI - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The company had revenue of $141.96 million for the quarter, compared to analysts' expectations of $139.78 million. Oncology Institute had a negative return on equity of 1,527.21% and a negative net margin of 11.45%.

Hedge Funds Weigh In On Oncology Institute

A number of large investors have recently bought and sold shares of the stock. LPL Financial LLC increased its stake in Oncology Institute by 1.5% in the 4th quarter. LPL Financial LLC now owns 270,885 shares of the company's stock worth $964,000 after purchasing an additional 3,900 shares during the period. AQR Capital Management LLC boosted its stake in shares of Oncology Institute by 9.1% during the fourth quarter. AQR Capital Management LLC now owns 48,072 shares of the company's stock valued at $171,000 after purchasing an additional 4,007 shares during the period. HighTower Advisors LLC grew its holdings in shares of Oncology Institute by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 85,851 shares of the company's stock worth $306,000 after purchasing an additional 4,489 shares during the last quarter. Cetera Investment Advisers grew its holdings 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 worth $36,000 after purchasing an additional 4,545 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Oncology Institute by 19.7% in the fourth quarter. Larson Financial Group LLC now owns 31,468 shares of the company's stock worth $112,000 after buying an additional 5,181 shares during the period. 36.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Check Out Our Latest Report on Oncology Institute

Oncology Institute Company Profile

(Get Free Report)

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.

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