BTIG Research Issues Positive Forecast for Oncology Institute (NASDAQ:STLN) Stock Price

Key Points

• BTIG Research raised its price target on Oncology Institute from $9 to $10 and maintained a Buy rating, implying 49.25% upside from the current share price.
• Analyst sentiment is broadly positive: four analysts rate the stock Buy and one rates it Sell, resulting in a Moderate Buy consensus and an average price target of $9.25.
• The company reported a quarterly loss of $0.13 per share, missing analysts’ expected loss of $0.07; revenue was $169.77 million.

Oncology Institute (NASDAQ:STLN - Get Free Report) had its price target lifted by analysts at BTIG Research from $9.00 to $10.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price objective points to a potential upside of 49.25% from the company's current price.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC lifted their price objective on Oncology Institute from $7.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, October 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Oncology Institute currently has a consensus rating of "Moderate Buy" and an average target price of $9.25.

Oncology Institute Stock Down 3.5%

STLN stock opened at $6.70 on Friday. The stock has a fifty day moving average price of $6.49. Oncology Institute has a one year low of $2.32 and a one year high of $7.13.

Oncology Institute (NASDAQ:STLN - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The firm had revenue of $169.77 million for the quarter. As a group, research analysts expect that Oncology Institute will post -0.21 EPS for the current year.

Insiders Place Their Bets

In other Oncology Institute news, Director Brad Hively sold 298,853 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.51, for a total transaction of $1,945,533.03. Following the sale, the director directly owned 411,976 shares in the company, valued at approximately $2,681,963.76. The trade was a 42.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 12,000 shares of the firm's stock in a transaction on Friday, August 14th. The shares were bought at an average price of $6.54 per share, for a total transaction of $78,480.00. Following the completion of the transaction, the insider directly owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. This represents a 0.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Oncology Institute

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new stake in shares of Oncology Institute in the 2nd quarter worth approximately $41,000. AMG National Trust Bank acquired a new position in Oncology Institute during the second quarter worth $54,000. Engineers Gate Manager LP acquired a new position in Oncology Institute during the second quarter worth $67,000. Fermata Advisors LLC purchased a new stake in Oncology Institute during the second quarter worth $70,000. Finally, Granite Investment Partners LLC purchased a new stake in Oncology Institute during the first quarter worth $46,000. Hedge funds and other institutional investors own 36.86% of the company's stock.

About Oncology Institute

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals.

The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.

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