Insider Buying: Oncology Institute (NASDAQ:TOI) Major Shareholder Buys 20,000 Shares of Stock

Key Points

• Major shareholder Jorey Chernett bought 20,000 shares on April 9 at $3.10, bringing his total holdings to 10,499,358 shares; he has purchased roughly 568,985 shares since mid‑March (totaling about $1.76M), a ~0.19% increase in ownership.
• TOI traded up 3.1% to $3.18 in the latest session, the company beat quarterly EPS estimates (reported ($0.06) vs. consensus ($0.08) loss), and analysts show a consensus “Moderate Buy” with an average target of $7.00 (four buys, one sell).

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) major shareholder Jorey Chernett acquired 20,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average price of $3.10 per share, with a total value of $62,000.00. Following the completion of the purchase, the insider owned 10,499,358 shares in the company, valued at $32,548,009.80. The trade was a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Tuesday, March 24th, Jorey Chernett acquired 125,000 shares of Oncology Institute stock. The shares were bought at an average price of $3.11 per share, with a total value of $388,750.00.
• On Friday, March 20th, Jorey Chernett acquired 25,000 shares of Oncology Institute stock. The shares were bought at an average price of $3.35 per share, with a total value of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The shares were bought at an average price of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The shares were bought at an average price of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett acquired 263,000 shares of Oncology Institute stock. The shares were bought at an average price of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Trading Up 3.1%

TOI traded up $0.10 during trading on Monday, reaching $3.18. 276,326 shares of the company were exchanged, compared to its average volume of 2,000,159. The stock has a market cap of $313.81 million, a P/E ratio of -5.67 and a beta of 0.17. The firm has a 50 day moving average of $2.89 and a 200 day moving average of $3.38. The Oncology Institute, Inc. has a 52 week low of $1.80 and a 52 week high of $4.88.

Oncology Institute (NASDAQ:TOI - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The company had revenue of $141.96 million for the quarter, compared to the consensus estimate of $139.78 million.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TOI shares. Weiss Ratings restated a "sell (d-)" rating on shares of Oncology Institute in a research note on Wednesday, January 21st. BTIG Research reiterated a "buy" rating and set a $7.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. B. Riley Financial boosted their price target on Oncology Institute from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $5.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $7.00.

Institutional Trading of Oncology Institute

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC lifted its holdings in shares of Oncology Institute by 1.5% in the fourth quarter. LPL Financial LLC now owns 270,885 shares of the company's stock valued at $964,000 after buying an additional 3,900 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Oncology Institute by 9.1% in the fourth quarter. AQR Capital Management LLC now owns 48,072 shares of the company's stock valued at $171,000 after buying an additional 4,007 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Oncology Institute by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 85,851 shares of the company's stock valued at $306,000 after buying an additional 4,489 shares during the period. Cetera Investment Advisers lifted its holdings in shares of 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 buying an additional 4,545 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Oncology Institute by 19.7% in the fourth quarter. Larson Financial Group LLC now owns 31,468 shares of the company's stock valued at $112,000 after buying an additional 5,181 shares during the period. Institutional investors and hedge funds own 36.86% of the company's stock.

About Oncology Institute

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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