Key Points
- Major shareholder Jorey Chernett bought 33,500 shares of Oncology Institute at an average price of $4.07, spending $136,345 and increasing their stake slightly to more than 10.56 million shares.
- Chernett has been an active buyer recently, with several additional purchases in May and a series of larger buys in March and April, signaling sustained insider accumulation.
- The company recently reported quarterly results that beat earnings and revenue estimates, while analysts currently hold a Moderate Buy consensus with an average price target of $7.00.
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The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) major shareholder Jorey Chernett purchased 5,000 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $4.05 per share, with a total value of $20,250.00. Following the completion of the transaction, the insider owned 10,534,358 shares of the company's stock, valued at approximately $42,664,149.90. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Wednesday, May 20th, Jorey Chernett purchased 33,500 shares of Oncology Institute stock. The shares were acquired at an average price of $4.07 per share, with a total value of $136,345.00.
- On Tuesday, May 19th, Jorey Chernett purchased 30,000 shares of Oncology Institute stock. The shares were acquired at an average price of $4.09 per share, with a total value of $122,700.00.
- On Thursday, April 9th, Jorey Chernett purchased 20,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.10 per share, with a total value of $62,000.00.
- On Tuesday, March 24th, Jorey Chernett purchased 125,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.11 per share, with a total value of $388,750.00.
- On Friday, March 20th, Jorey Chernett purchased 25,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.35 per share, with a total value of $83,750.00.
- On Tuesday, March 17th, Jorey Chernett purchased 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 shares were acquired at an average price 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 shares were acquired at an average price of $2.92 per share, with a total value of $767,960.00.
Oncology Institute Trading Up 6.4%
Oncology Institute stock opened at $4.47 on Friday. The firm has a 50-day moving average of $3.47 and a 200-day moving average of $3.32. The firm has a market cap of $441.81 million, a P/E ratio of -12.08 and a beta of 0.33. The Oncology Institute, Inc. has a 1-year low of $2.02 and a 1-year high of $4.88.
Oncology Institute (NASDAQ:TOI - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million for the quarter, compared to analysts' expectations of $142.10 million. Research analysts forecast that The Oncology Institute, Inc. will post -0.2 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Oncology Institute
Institutional investors and hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC bought a new position in shares of Oncology Institute during the fourth quarter valued at approximately $31,000. Pekin Hardy Strauss Inc. bought a new position in shares of Oncology Institute during the fourth quarter valued at approximately $36,000. Cetera Investment Advisers increased its stake 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 purchasing an additional 4,545 shares in the last quarter. State of Wyoming bought a new position in shares of Oncology Institute during the second quarter valued at approximately $37,000. Finally, R Squared Ltd bought a new position in shares of Oncology Institute during the fourth quarter valued at approximately $41,000. Institutional investors own 36.86% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TOI. B. Riley Financial increased their target price on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, March 13th. BTIG Research reiterated a "buy" rating and set a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Needham & Company LLC reiterated a "buy" rating and set a $5.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Oncology Institute has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.
Check Out Our Latest Report on TOI
Oncology Institute Company Profile
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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.
Further Reading
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