1,552,917 Shares in Oncology Institute, Inc. $STLN Purchased by State Street Corp

Key Points

• State Street acquired 1,552,917 shares of Oncology Institute during the second quarter, valued at approximately $8.4 million and representing about 1.57% of the company. Institutional investors and hedge funds collectively own 36.86% of STLN.
• Oncology Institute reported a quarterly loss of $0.08 per share, while revenue of $161.28 million exceeded analysts’ $152.80 million estimate. Shares opened at $6.66, compared with a 12-month range of $2.32 to $7.13.
• Analyst sentiment is generally positive, with four Buy ratings and one Sell rating; the stock has a Moderate Buy consensus and an average price target of $8.50.

State Street Corp bought a new position in shares of Oncology Institute, Inc. (NASDAQ:STLN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,552,917 shares of the company's stock, valued at approximately $8,432,000. State Street Corp owned approximately 1.57% of Oncology Institute as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Oncology Institute in the second quarter valued at $25,787,000. Josh Arnold Investment Consultant LLC increased its holdings in Oncology Institute by 1,104.3% during the 4th quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company's stock valued at $8,757,000 after acquiring an additional 2,255,559 shares in the last quarter. Manatuck Hill Partners LLC acquired a new position in Oncology Institute during the second quarter worth about $2,444,000. Walleye Capital LLC purchased a new stake in shares of Oncology Institute in the second quarter valued at about $2,421,000. Finally, Bank of America Corp DE acquired a new stake in shares of Oncology Institute in the second quarter valued at approximately $2,129,000. 36.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Oncology Institute

In related news, major shareholder Jorey Chernett bought 12,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $6.54 per share, for a total transaction of $78,480.00. Following the purchase, the insider owned 10,660,858 shares in the company, valued at $69,722,011.32. This trade represents a 0.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brad Hively sold 298,853 shares of the business'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 sale, the director owned 411,976 shares of the company's stock, valued at $2,681,963.76. This trade represents a 42.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders bought 45,000 shares of company stock worth $261,090. Company insiders own 4.40% of the company's stock.

Oncology Institute Price Performance

Shares of Oncology Institute stock opened at $6.66 on Friday. Oncology Institute, Inc. has a twelve month low of $2.32 and a twelve month high of $7.13. The firm has a market cap of $658.27 million, a P/E ratio of -22.20 and a beta of 0.41.

Oncology Institute (NASDAQ:STLN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $161.28 million for the quarter, compared to the consensus estimate of $152.80 million. As a group, sell-side analysts expect that Oncology Institute, Inc. will post -0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STLN shares. Needham & Company LLC increased their target price on Oncology Institute from $5.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. BTIG Research upped their price objective on 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 started coverage on shares of Oncology Institute in a research note on Thursday, August 6th. They issued a "sell (d-)" rating for the company. Finally, Lake Street Capital assumed coverage on shares of Oncology Institute in a report on Monday, July 6th. They issued a "buy" rating and a $10.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $8.50.

Oncology Institute Profile

The Oncology Institute, Inc is a healthcare services company focused on delivering value-based cancer care. The company works with oncologists, health plans and other healthcare organizations to coordinate treatment and manage the costs of oncology services while emphasizing quality, access and patient outcomes.

Its services include medical oncology and hematology care, cancer diagnosis and treatment planning, chemotherapy and infusion services, supportive care, clinical research and care-management programs.

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