The Oncology Institute, Inc. $TOI Shares Bought by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Oncology Institute stake by 169.3% in the first quarter, purchasing 263,699 additional shares to own 419,423 shares valued at approximately $1.29 million. Institutional investors and hedge funds collectively own 36.86% of the company.
• Analyst sentiment is mostly positive, with four Buy ratings and one Sell rating. The stock has a “Moderate Buy” consensus and an average price target of $8.50, compared with its recent price of $5.19.
• Oncology Institute reported quarterly revenue of $161.28 million, exceeding expectations, but its $0.08-per-share loss was slightly worse than the expected $0.07 loss. The company’s shares have traded between $2.32 and $6.67 over the past year.

Arrowstreet Capital Limited Partnership boosted its holdings in The Oncology Institute, Inc. (NASDAQ:TOI - Free Report) by 169.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 419,423 shares of the company's stock after purchasing an additional 263,699 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.42% of Oncology Institute worth $1,288,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new stake in Oncology Institute in the first quarter valued at $131,000. Geode Capital Management LLC increased its holdings in shares of Oncology Institute by 231.7% in the 2nd 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 in the last quarter. Cetera Investment Advisers increased its holdings in shares of Oncology Institute by 35.0% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 acquired a new stake in shares of Oncology Institute in the second quarter valued at about $92,000. Institutional investors and hedge funds own 36.86% of the company's stock.

Analysts Set New Price Targets

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

Oncology Institute Stock Performance

TOI opened at $5.19 on Friday. The Oncology Institute, Inc. has a 1 year low of $2.32 and a 1 year high of $6.67. The firm has a 50 day moving average price of $5.22 and a 200 day moving average price of $3.96. The company has a market cap of $512.58 million, a PE ratio of -14.02 and a beta of 0.39.

Oncology Institute (NASDAQ:TOI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $161.28 million during the quarter, compared to analysts' expectations of $155.28 million. On average, sell-side analysts predict that The Oncology Institute, Inc. will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Jorey Chernett acquired 33,500 shares of Oncology Institute stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $4.07 per share, for a total transaction of $136,345.00. Following the purchase, the insider directly owned 10,567,858 shares of the company's stock, valued at $43,011,182.06. The trade was a 0.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yale Podnos sold 23,451 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $5.38, for a total value of $126,166.38. Following the transaction, the insider directly owned 259,527 shares in the company, valued at approximately $1,396,255.26. This represents a 8.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders acquired 131,500 shares of company stock worth $609,265. 4.40% of the stock is currently owned by corporate insiders.

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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