Jorey Chernett Buys 15,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 15,000 shares of the company’s stock in a transaction on Friday, July 10th. The shares were purchased at an average cost of $5.85 per share, for a total transaction of $87,750.00. Following the completion of the transaction, the insider directly owned 10,630,858 shares of the company’s stock, valued at approximately $62,190,519.30. This represents a 0.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, June 23rd, Jorey Chernett bought 18,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $5.02 per share, for a total transaction of $90,360.00.
• On Thursday, June 4th, Jorey Chernett purchased 12,000 shares of Oncology Institute stock. The shares were acquired at an average price of $4.75 per share, with a total value of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett purchased 33,500 shares of Oncology Institute stock. The shares were acquired at an average cost of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett acquired 5,000 shares of Oncology Institute stock. The stock was acquired at an average cost of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 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.

Oncology Institute Trading Up 0.5%

TOI opened at $6.28 on Wednesday. The stock’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $3.78. The Oncology Institute, Inc. has a 1-year low of $2.32 and a 1-year high of $6.67. The stock has a market cap of $620.72 million, a PE ratio of -16.97 and a beta of 0.36.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TOI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research note on Monday, April 20th. BTIG Research raised their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Lake Street Capital assumed coverage on Oncology Institute in a report on Monday, July 6th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Needham & Company LLC upped their target price on Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.40.

Hedge Funds Weigh In On Oncology Institute

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Oncology Institute by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company’s stock worth $15,863,000 after purchasing an additional 264,358 shares in the last quarter. CenterBook Partners LP grew its position in shares of Oncology Institute by 12.0% during the 4th quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock worth $10,784,000 after purchasing an additional 324,662 shares in the last quarter. Kanen Wealth Management LLC increased its holdings in shares of Oncology Institute by 61.6% during the fourth quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company’s stock worth $10,712,000 after purchasing an additional 1,134,043 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Oncology Institute by 17.3% in the second quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock valued at $5,163,000 after buying an additional 371,005 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC raised its position in shares of Oncology Institute by 1,104.3% in the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company’s stock valued at $8,757,000 after buying an additional 2,255,559 shares in the last quarter. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Oncology Institute Company Profile

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.