Jorey Chernett Buys 33,500 Shares of Oncology Institute (NASDAQ:TOI) Stock

Key Points

• Major shareholder Jorey Chernett bought 33,500 shares of Oncology Institute (NASDAQ:TOI) at an average price of $4.07, totaling about $136,345. The purchase lifted his stake to more than 10.56 million shares.
• Chernett has been actively buying TOI shares in recent months, including multiple purchases in March, April, and May. His recent trades suggest continued insider confidence in the company.
• The company recently beat quarterly earnings and revenue expectations, reporting a smaller-than-expected loss and $147.44 million in revenue. Analysts currently have a Moderate Buy rating on the stock with an average target price of $7.00.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) major shareholder Jorey Chernett bought 33,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $4.07 per share, with a total value of $136,345.00. Following the completion of the purchase, the insider owned 10,567,858 shares in the company, valued at $43,011,182.06. This represents a 0.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.05 per share, with a total value of $20,250.00.
• On Tuesday, May 19th, Jorey Chernett bought 30,000 shares of Oncology Institute stock. The stock was purchased at an average cost of $4.09 per share, with a total value of $122,700.00.
• On Thursday, April 9th, Jorey Chernett bought 20,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.10 per share, with a total value of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett bought 125,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.11 per share, with a total value of $388,750.00.
• On Friday, March 20th, Jorey Chernett bought 25,000 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.35 per share, with a total value of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett purchased 75,000 shares of Oncology Institute stock. The stock was bought at an average cost of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The stock was bought at an average cost of $3.29 per share, with a total value of $200,640.65.
• On Friday, March 13th, Jorey Chernett bought 263,000 shares of Oncology Institute stock. The shares were acquired at an average cost of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Stock Performance

Shares of NASDAQ:TOI traded down $0.04 during midday trading on Thursday, hitting $4.17. 358,184 shares of the stock were exchanged, compared to its average volume of 1,889,279. The stock has a market capitalization of $411.67 million, a price-to-earnings ratio of -11.28 and a beta of 0.33. The business's 50-day moving average price is $3.43 and its 200 day moving average price is $3.32. The Oncology Institute, Inc. has a 12 month low of $2.02 and a 12 month high of $4.88.

Oncology Institute (NASDAQ:TOI - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $147.44 million during the quarter, compared to the consensus estimate of $142.10 million. As a group, sell-side analysts expect that The Oncology Institute, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

TOI has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $5.00 target price on shares of Oncology Institute in a research report on Monday, March 9th. BTIG Research reiterated a "buy" rating and set a $7.00 price target on shares of Oncology Institute in a research note on Monday, March 9th. B. Riley Financial raised their target price on Oncology Institute from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $7.00.

Institutional Investors Weigh In On Oncology Institute

A number of institutional investors have recently modified their holdings of TOI. LPL Financial LLC lifted its holdings in 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 acquiring an additional 3,900 shares during the period. AQR Capital Management LLC grew its position in shares of Oncology Institute by 9.1% during the fourth quarter. AQR Capital Management LLC now owns 48,072 shares of the company's stock worth $171,000 after purchasing an additional 4,007 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Oncology Institute by 5.5% during the fourth quarter. HighTower Advisors LLC now owns 85,851 shares of the company's stock worth $306,000 after purchasing an additional 4,489 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Oncology Institute by 35.0% during the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company's stock worth $36,000 after purchasing an additional 4,545 shares in the last quarter. Finally, R Squared Ltd grew its holdings in Oncology Institute by 42.7% during the 1st quarter. R Squared Ltd now owns 16,353 shares of the company's stock valued at $50,000 after buying an additional 4,891 shares in the last quarter. 36.86% of the stock is owned by hedge funds and other institutional investors.

Oncology Institute Company 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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