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Oncology Institute (NASDAQ:STLN) Stock Sale Revealed by Sen. Richard Blumenthal

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Key Points

Senator Richard Blumenthal (Democratic-Connecticut) recently sold part of their stake in Oncology Institute, Inc. NASDAQ: STLN. In a filing disclosed on October 26th, the Senator disclosed that they had sold between $1,001 and $15,000 in Oncology Institute stock on September 22nd.

Senator Richard Blumenthal also recently made the following trade(s):

Oncology Institute Stock Performance

Shares of STLN opened at $6.29 on Tuesday. The stock has a market cap of $621.70 million, a price-to-earnings ratio of -20.97 and a beta of 0.39. Oncology Institute, Inc. has a 1-year low of $2.32 and a 1-year high of $7.13. The company's fifty day moving average is $6.46.

Oncology Institute (NASDAQ:STLN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $161.28 million for the quarter, compared to analyst estimates of $152.80 million. Research analysts expect that Oncology Institute, Inc. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oncology Institute

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc purchased a new position in shares of Oncology Institute in the second quarter valued at $41,000. AMG National Trust Bank bought a new stake in Oncology Institute in the second quarter worth $54,000. Engineers Gate Manager LP bought a new position in Oncology Institute during the second quarter valued at $67,000. Fermata Advisors LLC bought a new stake in shares of Oncology Institute in the 2nd quarter worth about $70,000. Finally, Granite Investment Partners LLC bought a new position in Oncology Institute during the 1st quarter valued at about $46,000. Institutional investors own 36.86% of the company's stock.

Insider Transactions at Oncology Institute

In other Oncology Institute news, Director Brad Hively sold 298,853 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $6.51, for a total transaction 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. The trade was a 42.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 12,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were acquired at an average price 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 approximately $69,722,011.32. This trade represents a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on STLN. Lake Street Capital assumed coverage on Oncology Institute in a research note on Monday, July 6th. They issued a "buy" rating and a $10.00 price objective for the company. Weiss Ratings began coverage on Oncology Institute in a research report on Thursday, August 6th. They set a "sell (d-)" rating on the stock. Needham & Company LLC boosted their price target on Oncology Institute from $7.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, October 14th. Finally, BTIG Research upped their price target on Oncology Institute from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Oncology Institute currently has an average rating of "Moderate Buy" and an average target price of $9.00.

Check Out Our Latest Research Report on STLN

About Senator Blumenthal

Richard Blumenthal (Democratic Party) is a member of the U.S. Senate from Connecticut. He assumed office on January 3, 2011. His current term ends on January 3, 2029. Blumenthal (Democratic Party, Working Families Party) ran for re-election to the U.S. Senate to represent Connecticut. He won in the general election on November 8, 2022. Before his election to the Senate, Blumenthal had served as the Connecticut Attorney General since 1991. He served in the Connecticut State Senate from 1987 to 1991 and in the Connecticut House of Representatives from 1984 to 1987. As of a 2014 analysis of multiple outside rankings, Blumenthal is one of the most reliable Democratic votes, meaning he can be considered a safe vote for the Democratic Party in Congress.

Oncology Institute Company Profile

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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