CenterBook Partners LP Raises Holdings in The Oncology Institute, Inc. $TOI

CenterBook Partners LP lifted its holdings in shares of The Oncology Institute, Inc. (NASDAQ:TOI) by 12.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,029,312 shares of the company’s stock after acquiring an additional 324,662 shares during the period. CenterBook Partners LP owned approximately 3.08% of Oncology Institute worth $10,784,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Pekin Hardy Strauss Inc. purchased a new stake in shares of Oncology Institute during the fourth quarter worth about $36,000. Cetera Investment Advisers lifted 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 worth $36,000 after purchasing an additional 4,545 shares during the period. State of Wyoming acquired a new stake in shares of Oncology Institute during the second quarter worth about $37,000. R Squared Ltd acquired a new stake in shares of Oncology Institute during the fourth quarter worth about $41,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of Oncology Institute during the third quarter worth about $41,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Oncology Institute in a report on Monday, March 9th. BTIG Research reaffirmed a “buy” rating and set a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Finally, B. Riley Financial lifted their target price on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Oncology Institute has an average rating of “Moderate Buy” and an average price target of $7.00.

Oncology Institute Stock Performance

Shares of NASDAQ:TOI opened at $4.87 on Monday. The Oncology Institute, Inc. has a 12-month low of $2.02 and a 12-month high of $5.17. The company has a market capitalization of $481.35 million, a PE ratio of -13.16 and a beta of 0.37. The business has a 50 day moving average of $3.78 and a two-hundred day moving average of $3.39.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. Equities research analysts predict that The Oncology Institute, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mohit Kaushal sold 57,286 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $3.50, for a total transaction of $200,501.00. Following the completion of the transaction, the director directly owned 211,016 shares of the company’s stock, valued at $738,556. This represents a 21.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 263,000 shares of Oncology Institute stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $2.92 per share, with a total value of $767,960.00. Following the completion of the purchase, the insider owned 10,115,944 shares in the company, valued at approximately $29,538,556.48. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 649,485 shares of company stock valued at $2,095,896 over the last three months. 8.50% of the stock is currently owned by corporate insiders.

About Oncology Institute

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.