Oncology Institute (NASDAQ:TOI) Given New $9.00 Price Target at BTIG Research

Oncology Institute (NASDAQ:TOI) had its price objective increased by BTIG Research from $8.00 to $9.00 in a report issued on Thursday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the company. B. Riley Financial raised their price target on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Needham & Company LLC raised their price objective on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. Finally, Lake Street Capital began coverage on shares of Oncology Institute in a report on Monday. They issued a “buy” rating and a $10.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.40.

Oncology Institute Price Performance

Shares of TOI opened at $5.85 on Thursday. The stock has a market capitalization of $578.21 million, a price-to-earnings ratio of -15.81 and a beta of 0.36. Oncology Institute has a 1 year low of $2.32 and a 1 year high of $6.11. The business’s 50 day simple moving average is $4.76 and its 200-day simple moving average is $3.72.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. On average, sell-side analysts expect that Oncology Institute will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Oncology Institute

In other news, major shareholder Jorey Chernett bought 33,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $4.07 per share, with a total value of $136,345.00. Following the transaction, the insider directly owned 10,567,858 shares in the company, valued at $43,011,182.06. This trade represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mohit Kaushal sold 57,286 shares of the business’s stock in a transaction 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 sale, the director owned 211,016 shares in the company, valued at $738,556. The trade was a 21.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders purchased 98,500 shares of company stock worth $426,655 and sold 119,170 shares worth $461,183. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oncology Institute

A number of large investors have recently added to or reduced their stakes in the company. LPL Financial LLC grew its stake in Oncology Institute by 1.5% during the 4th quarter. LPL Financial LLC now owns 270,885 shares of the company’s stock worth $964,000 after buying an additional 3,900 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Oncology Institute by 9.1% in the 4th 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 increased its stake in Oncology Institute by 5.5% in the 4th quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock valued at $306,000 after buying an additional 4,489 shares during the period. Cetera Investment Advisers raised 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 acquiring an additional 4,545 shares in the last quarter. Finally, R Squared Ltd raised its stake in shares of Oncology Institute by 42.7% during the 1st quarter. R Squared Ltd now owns 16,353 shares of the company’s stock worth $50,000 after purchasing an additional 4,891 shares in the last quarter. 36.86% of the stock is owned by institutional investors and hedge funds.

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.