Oncology Institute (NASDAQ:STLN) Price Target Raised to $9.00

Key Points

• Needham raised Oncology Institute’s price target to $9.00 from $7.00 and maintained a “Buy” rating, implying 34.33% upside from the prior close. The analyst consensus is “Moderate Buy” with a $9.00 target.
• Oncology Institute reported a quarterly loss of $0.08 per share but revenue of $161.28 million, exceeding analysts’ $152.80 million estimate. The stock opened at $6.70 and has traded between $2.32 and $7.13 over the past year.
• Insider activity was mixed: Director Brad Hively sold 298,853 shares, while major shareholder Jorey Chernett bought 12,000 shares. Institutional investors own 36.86% of the company, including a new $8.43 million position from State Street.

Oncology Institute (NASDAQ:STLN - Get Free Report) had its price objective hoisted by Needham & Company LLC from $7.00 to $9.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 34.33% from the stock's previous close.

STLN has been the topic of a number of other reports. BTIG Research increased their price target on shares of Oncology Institute from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Weiss Ratings assumed coverage on shares of Oncology Institute in a report on Thursday, August 6th. They set a "sell (d-)" rating for the company. Finally, Lake Street Capital assumed coverage on shares of Oncology Institute in a research note on Monday, July 6th. They issued a "buy" rating and a $10.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

Oncology Institute Price Performance

Shares of Oncology Institute stock opened at $6.70 on Wednesday. The firm has a 50 day moving average of $6.40. Oncology Institute has a fifty-two week low of $2.32 and a fifty-two week high of $7.13.

Oncology Institute (NASDAQ:STLN - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) EPS for the quarter. The company had revenue of $161.28 million during the quarter, compared to analysts' expectations of $152.80 million. Equities analysts predict that Oncology Institute will post -0.21 earnings per share for the current fiscal year.

Insider Activity at Oncology Institute

In other news, Director Brad Hively sold 298,853 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $6.51, for a total value of $1,945,533.03. Following the completion of the transaction, the director owned 411,976 shares in the company, valued at $2,681,963.76. This represents a 42.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 12,000 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $6.54 per share, with a total value of $78,480.00. Following the transaction, the insider directly owned 10,660,858 shares of the company's stock, valued at $69,722,011.32. This represents a 0.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Oncology Institute

Several institutional investors have recently added to or reduced their stakes in STLN. State Street Corp acquired a new position in Oncology Institute in the 2nd quarter worth $8,432,000. The Manufacturers Life Insurance Company bought a new position in shares of Oncology Institute during the second quarter worth about $111,000. WINTON GROUP Ltd bought a new position in shares of Oncology Institute during the second quarter worth about $102,000. Engineers Gate Manager LP bought a new position in shares of Oncology Institute during the second quarter worth about $67,000. Finally, Squarepoint Ops LLC acquired a new stake in Oncology Institute in the 2nd quarter valued at approximately $396,000. 36.86% of the stock is owned by institutional investors.

About Oncology Institute

The Oncology Institute, Inc is a healthcare services company focused on providing specialized cancer care through community-based oncology practices. Its services generally include cancer diagnosis, treatment planning, chemotherapy and other infusion therapies, radiation referrals, supportive care, and ongoing monitoring for patients with cancer.

The company's care model is designed to integrate oncologists, advanced practice providers, nurses, and other healthcare professionals while emphasizing coordinated and accessible treatment outside traditional hospital settings.

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