Noble Financial Initiates Coverage on Oncology Institute (NASDAQ:TOI)

Investment analysts at Noble Financial began coverage on shares of Oncology Institute (NASDAQ:TOI - Get Free Report) in a research note issued on Wednesday, MarketBeat.com reports. The firm set an "outperform" rating and a $8.00 price target on the stock. Noble Financial's target price points to a potential upside of 117.39% from the company's current price.

Several other analysts have also recently weighed in on the company. BTIG Research started coverage on Oncology Institute in a report on Thursday, May 15th. They set a "buy" rating and a $7.00 price target on the stock. B. Riley started coverage on Oncology Institute in a report on Wednesday, July 16th. They set a "buy" rating and a $6.00 price target on the stock.

Oncology Institute Price Performance

TOI stock traded up $0.03 during trading on Wednesday, reaching $3.68. 946,733 shares of the company were exchanged, compared to its average volume of 2,473,666. The company has a 50-day moving average of $2.83 and a two-hundred day moving average of $1.86. The company has a market capitalization of $328.37 million, a price-to-earnings ratio of -5.26 and a beta of 0.02. Oncology Institute has a twelve month low of $0.13 and a twelve month high of $3.88. The company has a debt-to-equity ratio of 14.58, a current ratio of 1.79 and a quick ratio of 1.59.

Oncology Institute (NASDAQ:TOI - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $104.41 million for the quarter. Oncology Institute had a negative return on equity of 445.02% and a negative net margin of 15.38%.

Insider Buying and Selling at Oncology Institute

In related news, Director Brad Hively sold 1,976,137 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $2.87, for a total transaction of $5,671,513.19. Following the completion of the sale, the director owned 603,501 shares in the company, valued at approximately $1,732,047.87. This trade represents a 76.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Growth I. L.P. M33 sold 76,324 shares of Oncology Institute stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $3.05, for a total value of $232,788.20. Following the completion of the sale, the director directly owned 1,272,724 shares of the company's stock, valued at approximately $3,881,808.20. This trade represents a 5.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,726,137 shares of company stock valued at $13,379,013. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oncology Institute

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in Oncology Institute by 613.6% in the 4th quarter. Jane Street Group LLC now owns 127,659 shares of the company's stock worth $39,000 after acquiring an additional 109,769 shares during the last quarter. Virtu Financial LLC purchased a new stake in Oncology Institute in the 4th quarter worth about $41,000. Renaissance Technologies LLC grew its holdings in Oncology Institute by 7.1% during the 4th quarter. Renaissance Technologies LLC now owns 182,000 shares of the company's stock valued at $56,000 after buying an additional 12,000 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Oncology Institute during the 1st quarter valued at about $131,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in Oncology Institute during the 2nd quarter valued at about $132,000. Hedge funds and other institutional investors 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.