Oncology Institute (NASDAQ:STLN) Stock: Insider Jorey Chernett Sells 2,851,061 Shares

Key Points

• Major shareholder Jorey Chernett sold 2,851,061 shares at an average $3.99, for about $11.38 million, reducing his holdings by 26.74% to 7,809,797 shares. He later acquired 48,294 shares at an average $3.65.
• Oncology Institute reported a quarterly loss of $0.13 per share, missing analysts’ $0.07 loss estimate; revenue was $169.77 million.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $9.25, while the stock recently traded at $4.34.

Oncology Institute, Inc. (NASDAQ:STLN - Get Free Report) major shareholder Jorey Chernett sold 2,851,061 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $3.99, for a total transaction of $11,375,733.39. Following the completion of the transaction, the insider owned 7,809,797 shares in the company, valued at $31,161,090.03. This represents a 26.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

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

• On Monday, November 9th, Jorey Chernett acquired 48,294 shares of Oncology Institute stock. The shares were bought at an average price of $3.65 per share, with a total value of $176,273.10.
• On Friday, August 14th, Jorey Chernett acquired 12,000 shares of Oncology Institute stock. The shares were bought at an average price of $6.54 per share, with a total value of $78,480.00.

Oncology Institute Stock Performance

Shares of Oncology Institute stock traded up $0.34 during trading hours on Tuesday, hitting $4.34. The company had a trading volume of 6,346,120 shares, compared to its average volume of 1,896,865. The company's 50-day moving average price is $6.36. 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 $428.97 million, a P/E ratio of -14.97 and a beta of 0.44.

Oncology Institute (NASDAQ:STLN - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $169.77 million for the quarter. Equities research analysts expect that Oncology Institute, Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of STLN. BlackRock Inc. acquired a new stake in Oncology Institute during the 2nd quarter worth approximately $25,787,000. State Street Corp purchased a new position in shares of Oncology Institute in the 2nd quarter valued at approximately $8,432,000. Manatuck Hill Partners LLC acquired a new position in shares of Oncology Institute in the second quarter valued at approximately $2,444,000. Walleye Capital LLC acquired a new position in shares of Oncology Institute in the second quarter valued at approximately $2,421,000. Finally, Bank of America Corp DE acquired a new position in shares of Oncology Institute in the second quarter valued at approximately $2,129,000. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STLN has been the topic of a number of research analyst reports. B. Riley Financial reiterated a "buy" rating and set a $10.00 target price (down from $11.00) on shares of Oncology Institute in a research report on Friday. Lake Street Capital dropped their price target on Oncology Institute from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oncology Institute in a research report on Tuesday, November 3rd. Needham & Company LLC boosted their price objective on Oncology Institute from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, October 14th. Finally, BTIG Research increased their price objective on Oncology Institute from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.25.

About Oncology Institute

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals. The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.

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