GatePass Capital LLC Invests $1.28 Million in The Oncology Institute, Inc. $TOI

Key Points

• GatePass Capital LLC opened a new position in The Oncology Institute, buying 360,000 shares worth about $1.28 million and taking a 0.37% stake in the company.
• Institutional interest remains active, with several hedge funds increasing holdings; overall, 36.86% of TOI is owned by institutional investors and hedge funds.
• Analysts are mixed but lean positive: the stock has a Moderate Buy consensus with a $7 target price, while the company also beat recent earnings and revenue estimates.

GatePass Capital LLC purchased a new position in shares of The Oncology Institute, Inc. (NASDAQ:TOI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 360,000 shares of the company's stock, valued at approximately $1,282,000. GatePass Capital LLC owned 0.37% of Oncology Institute as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TOI. Goldman Sachs Group Inc. purchased a new position in Oncology Institute in the first quarter valued at $131,000. Geode Capital Management LLC boosted its holdings in Oncology Institute by 231.7% in the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company's stock valued at $2,623,000 after purchasing an additional 893,696 shares during the period. Cetera Investment Advisers boosted its holdings in Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company's stock valued at $36,000 after purchasing an additional 4,545 shares during the period. JPMorgan Chase & Co. boosted its holdings in Oncology Institute by 51,631.5% in the second quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company's stock valued at $57,000 after purchasing an additional 27,881 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in Oncology Institute in the second quarter valued at $92,000. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TOI shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a report on Monday, April 20th. B. Riley Financial lifted their target price on Oncology Institute from $6.00 to $8.00 and gave the company a "buy" rating in a report on Friday, March 13th. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Finally, BTIG Research reiterated a "buy" rating and issued a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Four equities 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

Insider Transactions at Oncology Institute

In other news, Director Mohit Kaushal sold 38,433 shares of Oncology Institute stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $3.50, for a total transaction of $134,515.50. Following the sale, the director owned 172,583 shares in the company, valued at approximately $604,040.50. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 33,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $4.07 per share, for a total transaction of $136,345.00. Following the transaction, the insider directly owned 10,567,858 shares of the company's stock, valued at approximately $43,011,182.06. This represents a 0.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 637,485 shares of company stock worth $2,038,896 in the last quarter. Insiders own 8.50% of the company's stock.

Oncology Institute Stock Performance

TOI opened at $4.59 on Tuesday. The business's 50-day simple moving average is $3.54 and its 200-day simple moving average is $3.33. The Oncology Institute, Inc. has a one year low of $2.02 and a one year high of $4.88. The stock has a market capitalization of $453.68 million, a P/E ratio of -12.41 and a beta of 0.33.

Oncology Institute (NASDAQ:TOI - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million. On average, equities research analysts forecast that The Oncology Institute, Inc. will post -0.2 EPS for the current fiscal year.

Oncology Institute Profile

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.

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