Jorey Chernett Acquires 15,000 Shares of Oncology Institute (NASDAQ:TOI) Stock

Key Points

• Major shareholder Jorey Chernett bought 15,000 shares of Oncology Institute (NASDAQ:TOI) at $5.85 apiece, spending $87,750 and lifting his stake to more than 10.63 million shares.
• Chernett has been actively accumulating shares over the past two months, including purchases of 18,000 shares on June 23, 12,000 on June 4, and several larger buys in May.
• TOI shares were slightly lower in Monday trading at $5.86, while analysts remain generally positive with a consensus rating of Moderate Buy and an average target price of $8.40.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) major shareholder Jorey Chernett acquired 15,000 shares of the firm's stock in a transaction on Friday, July 10th. The shares were bought at an average cost of $5.85 per share, for a total transaction of $87,750.00. Following the acquisition, the insider owned 10,630,858 shares in the company, valued at approximately $62,190,519.30. The trade was a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, June 23rd, Jorey Chernett bought 18,000 shares of Oncology Institute stock. The stock was bought at an average cost of $5.02 per share, with a total value of $90,360.00.
• On Thursday, June 4th, Jorey Chernett bought 12,000 shares of Oncology Institute stock. The shares were bought at an average price of $4.75 per share, for a total transaction of $57,000.00.
• On Wednesday, May 20th, Jorey Chernett bought 33,500 shares of Oncology Institute stock. The shares were bought at an average price of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett purchased 5,000 shares of Oncology Institute stock. The shares were bought at an average cost of $4.05 per share, for a total transaction of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett purchased 30,000 shares of Oncology Institute stock. The stock was bought at an average cost of $4.09 per share, with a total value of $122,700.00.

Oncology Institute Stock Down 0.6%

TOI stock traded down $0.04 during trading on Monday, hitting $5.86. The company had a trading volume of 1,231,886 shares, compared to its average volume of 1,916,043. The firm has a 50-day moving average price of $4.81 and a 200-day moving average price of $3.74. The Oncology Institute, Inc. has a 12 month low of $2.32 and a 12 month high of $6.11. The stock has a market cap of $578.70 million, a price-to-earnings ratio of -15.96 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. Equities analysts expect that The Oncology Institute, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Oncology Institute

Several institutional investors have recently modified their holdings of the stock. Fermata Advisors LLC bought a new stake in shares of Oncology Institute in the 2nd quarter valued at about $70,000. Bank of America Corp DE boosted its stake in Oncology Institute by 36.6% during the 1st quarter. Bank of America Corp DE now owns 63,439 shares of the company's stock worth $195,000 after acquiring an additional 16,991 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Oncology Institute during the 1st quarter worth approximately $154,000. Royal Bank of Canada grew its holdings in Oncology Institute by 335.9% during the first quarter. Royal Bank of Canada now owns 22,257 shares of the company's stock valued at $68,000 after purchasing an additional 17,151 shares during the period. Finally, FourWorld Capital Management LLC grew its holdings in Oncology Institute by 30.4% during the first quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company's stock valued at $1,533,000 after purchasing an additional 116,496 shares during the period. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TOI has been the topic of a number of research reports. Lake Street Capital assumed coverage on shares of Oncology Institute in a research report on Monday, July 6th. They set a "buy" rating and a $10.00 target price on the stock. 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. 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Oncology Institute in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.40.

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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