Bank of New York Mellon Corp Makes New $961,000 Investment in Oncology Institute, Inc. $STLN

Key Points

• Bank of New York Mellon acquired 176,949 shares of Oncology Institute valued at approximately $961,000, while institutional investors collectively own 36.86% of the company.
• Oncology Institute reported quarterly revenue of $161.28 million, above the $152.80 million consensus estimate, but posted a loss of $0.08 per share. Analysts expect a full-year loss of approximately $0.21 per share.
• The stock opened at $6.20, with analysts maintaining a “Moderate Buy” consensus and an average price target of $8.50; however, insider activity was mixed, with a major shareholder buying shares and a director selling $1.95 million worth under a Rule 10b5-1 plan.

Bank of New York Mellon Corp acquired a new position in Oncology Institute, Inc. (NASDAQ:STLN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 176,949 shares of the company's stock, valued at approximately $961,000. Bank of New York Mellon Corp owned 0.18% of Oncology Institute as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STLN. Josh Arnold Investment Consultant LLC increased its stake 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 worth $8,757,000 after purchasing an additional 2,255,559 shares in the last quarter. Kanen Wealth Management LLC purchased a new position in shares of Oncology Institute in the third quarter valued at about $6,421,000. Marshall Wace LLP purchased a new position in Oncology Institute in the 2nd quarter worth approximately $3,028,000. Geode Capital Management LLC boosted its stake in Oncology Institute by 231.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company's stock worth $2,623,000 after purchasing an additional 893,696 shares during the period. Finally, UBS Group AG boosted its stake in Oncology Institute by 151.2% in the 3rd quarter. UBS Group AG now owns 1,055,862 shares of the company's stock worth $3,685,000 after purchasing an additional 635,489 shares during the period. 36.86% of the stock is owned by hedge funds and other institutional investors.

Oncology Institute Price Performance

Shares of Oncology Institute stock opened at $6.20 on Friday. The company has a market capitalization of $612.81 million, a PE ratio of -20.67 and a beta of 0.41. Oncology Institute, Inc. has a one year low of $2.32 and a one year high of $7.05.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on STLN shares. Weiss Ratings started coverage on shares of Oncology Institute in a research report on Thursday, August 6th. They set a "sell (d-)" rating on the stock. Lake Street Capital assumed coverage on shares of Oncology Institute in a research note on Monday, July 6th. They set a "buy" rating and a $10.00 target price for the company. Needham & Company LLC boosted their price target on shares of Oncology Institute from $5.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, June 17th. Finally, BTIG Research increased their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $8.50.

Insiders Place Their Bets

In other news, major shareholder Jorey Chernett bought 18,000 shares of Oncology Institute stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $5.02 per share, with a total value of $90,360.00. Following the completion of the purchase, the insider owned 10,615,858 shares in the company, valued at $53,291,607.16. The trade was a 0.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brad Hively sold 298,853 shares of the firm's stock in a transaction dated 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 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 63,000 shares of company stock worth $351,450 in the last quarter. Company insiders own 4.40% of the company's stock.

Oncology Institute Profile

Oncology Institute is a physician-led healthcare company focused on delivering specialized cancer care through an integrated oncology platform. Its services are designed to support patients throughout the cancer-care journey, including diagnosis, treatment planning, chemotherapy and other medical oncology services, supportive care, and ongoing disease management.

The company's business model emphasizes value-based oncology care, with care coordination and clinical programs intended to improve outcomes while managing the overall cost of treatment.

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