Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Acquires 12,000 Shares

Key Points

• Major shareholder Jorey Chernett bought 12,000 shares of Oncology Institute at $4.75 each, totaling $57,000, and now owns 10.58 million shares after the transaction.
• The stock rose 5.8% to $5.02, nearing its 52-week high of $5.09, with a market cap of about $495.7 million.
• Oncology Institute recently beat quarterly earnings and revenue estimates, reporting EPS of -$0.02 versus -$0.07 expected and revenue of $147.44 million versus $142.10 million expected.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) major shareholder Jorey Chernett bought 12,000 shares of Oncology Institute stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $4.75 per share, with a total value of $57,000.00. Following the transaction, the insider owned 10,579,858 shares of the company's stock, valued at $50,254,325.50. This trade represents a 0.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Wednesday, May 20th, Jorey Chernett bought 33,500 shares of Oncology Institute stock. The stock was acquired at an average cost of $4.07 per share, with a total value of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett bought 5,000 shares of Oncology Institute stock. The stock was acquired 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 shares were acquired at an average price of $4.09 per share, for a total transaction of $122,700.00.
• On Thursday, April 9th, Jorey Chernett bought 20,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.10 per share, for a total transaction of $62,000.00.
• On Tuesday, March 24th, Jorey Chernett bought 125,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.11 per share, for a total transaction of $388,750.00.
• On Friday, March 20th, Jorey Chernett bought 25,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.35 per share, for a total transaction of $83,750.00.
• On Tuesday, March 17th, Jorey Chernett bought 75,000 shares of Oncology Institute stock. The shares were acquired at an average price of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett bought 60,985 shares of Oncology Institute stock. The shares were acquired at an average price of $3.29 per share, for a total transaction 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 price of $2.92 per share, for a total transaction of $767,960.00.

Oncology Institute Trading Up 5.8%

Shares of NASDAQ:TOI traded up $0.28 on Friday, reaching $5.02. 841,582 shares of the company's stock were exchanged, compared to its average volume of 1,861,000. The company has a fifty day moving average of $3.75 and a 200-day moving average of $3.39. The Oncology Institute, Inc. has a twelve month low of $2.02 and a twelve month high of $5.09. The company has a market capitalization of $495.68 million, a price-to-earnings ratio of -13.57 and a beta of 0.37.

Oncology Institute (NASDAQ:TOI - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million. As a group, equities research analysts forecast that The Oncology Institute, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TOI. Weiss Ratings restated a "sell (d-)" rating on shares of Oncology Institute in a research report on Monday, April 20th. B. Riley Financial increased their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. 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. 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 research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Oncology Institute has a consensus rating of "Moderate Buy" and an average target price of $7.00.

Institutional Trading of Oncology Institute

Large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of Oncology Institute during the 4th quarter worth approximately $31,000. Pekin Hardy Strauss Inc. bought a new position in Oncology Institute in the 4th quarter valued at approximately $36,000. Cetera Investment Advisers lifted its stake in Oncology Institute by 35.0% in the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company's stock valued at $36,000 after purchasing an additional 4,545 shares during the last quarter. State of Wyoming bought a new position in Oncology Institute in the 2nd quarter valued at approximately $37,000. Finally, R Squared Ltd bought a new position in Oncology Institute in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 36.86% of the company's stock.

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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