Oncology Institute (NASDAQ:TOI) Major Shareholder Jorey Chernett Buys 5,000 Shares

Key Points

• Major shareholder Jorey Chernett bought 5,000 Oncology Institute shares on May 19 at $4.05 each, and the filing shows he now directly owns 10.53 million shares. He also made several other large purchases in recent weeks, signaling continued insider accumulation.
• TOI shares slipped 0.8% to $4.17, trading below the recent 52-week high of $4.88 but above the low of $2.02. The stock also remains below its 50-day and 200-day moving averages.
• Recent results topped expectations, with the company reporting a smaller-than-expected loss of $0.02 per share and revenue of $147.44 million for the quarter. Analysts currently rate the stock a Moderate Buy with a consensus target price of $7.00.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) major shareholder Jorey Chernett acquired 5,000 shares of Oncology Institute stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $4.05 per share, for a total transaction of $20,250.00. Following the completion of the purchase, the insider directly owned 10,534,358 shares of the company's stock, valued at $42,664,149.90. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Wednesday, May 20th, Jorey Chernett purchased 33,500 shares of Oncology Institute stock. The shares were acquired at an average cost of $4.07 per share, for a total transaction of $136,345.00.
• On Tuesday, May 19th, Jorey Chernett purchased 30,000 shares of Oncology Institute stock. The shares were acquired at an average cost 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 purchased at an average cost 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 stock was purchased at an average price 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 acquired at an average cost 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 cost of $3.42 per share, for a total transaction of $256,500.00.
• On Monday, March 16th, Jorey Chernett purchased 60,985 shares of Oncology Institute stock. The shares were purchased at an average price 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 stock was bought at an average price of $2.92 per share, with a total value of $767,960.00.

Oncology Institute Stock Down 0.8%

NASDAQ TOI traded down $0.04 during trading on Thursday, hitting $4.17. The company's stock had a trading volume of 358,184 shares, compared to its average volume of 1,889,279. The firm has a 50 day moving average price of $3.43 and a 200 day moving average price of $3.32. The firm has a market cap of $411.67 million, a P/E ratio of -11.26 and a beta of 0.33. The Oncology Institute, Inc. has a 52 week low of $2.02 and a 52 week high of $4.88.

Oncology Institute (NASDAQ:TOI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million for the quarter, compared to the consensus estimate of $142.10 million. On average, equities analysts expect that The Oncology Institute, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Oncology Institute by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company's stock worth $15,863,000 after buying an additional 264,358 shares during the period. CenterBook Partners LP boosted its holdings in shares of Oncology Institute by 12.0% in the fourth quarter. CenterBook Partners LP now owns 3,029,312 shares of the company's stock worth $10,784,000 after acquiring an additional 324,662 shares during the period. Kanen Wealth Management LLC boosted its holdings in shares of Oncology Institute by 61.6% in the fourth quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company's stock worth $10,712,000 after acquiring an additional 1,134,043 shares during the period. Balyasny Asset Management L.P. boosted its stake in Oncology Institute by 17.3% during the second quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company's stock valued at $5,163,000 after buying an additional 371,005 shares during the period. Finally, Josh Arnold Investment Consultant LLC boosted its stake in Oncology Institute by 1,104.3% during the fourth quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company's stock valued at $8,757,000 after buying an additional 2,255,559 shares during the period. 36.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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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