Oncology Institute (NASDAQ:TOI) Stock Price Up 6.3% - Here's What Happened

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report)'s share price shot up 6.3% during trading on Wednesday . The stock traded as high as $2.95 and last traded at $2.88. 1,229,953 shares traded hands during trading, an increase of 57% from the average session volume of 783,592 shares. The stock had previously closed at $2.71.

Oncology Institute Stock Performance

The company has a market capitalization of $188.90 million, a PE ratio of -3.21 and a beta of 0.22. The company has a debt-to-equity ratio of 5.91, a quick ratio of 2.27 and a current ratio of 2.49. The company has a 50 day moving average price of $1.39 and a 200 day moving average price of $0.76.

Oncology Institute (NASDAQ:TOI - Get Free Report) last released its earnings results on Monday, March 24th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The business had revenue of $100.27 million for the quarter, compared to analysts' expectations of $109.15 million. Oncology Institute had a negative net margin of 17.63% and a negative return on equity of 186.83%.

Insider Activity

In other Oncology Institute news, Director Mark L. Pacala acquired 90,562 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was purchased at an average price of $1.04 per share, with a total value of $94,184.48. Following the completion of the acquisition, the director now directly owns 224,971 shares in the company, valued at $233,969.84. This trade represents a 67.38 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders acquired 122,258 shares of company stock worth $127,148. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oncology Institute

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its holdings in Oncology Institute by 613.6% in the fourth quarter. Jane Street Group LLC now owns 127,659 shares of the company's stock worth $39,000 after purchasing an additional 109,769 shares during the period. Virtu Financial LLC acquired a new position in shares of Oncology Institute during the fourth quarter valued at $41,000. Renaissance Technologies LLC boosted its holdings in shares of Oncology Institute by 7.1% during the fourth quarter. Renaissance Technologies LLC now owns 182,000 shares of the company's stock valued at $56,000 after acquiring an additional 12,000 shares during the period. FreeGulliver LLC boosted its holdings in shares of Oncology Institute by 219.3% during the fourth quarter. FreeGulliver LLC now owns 600,747 shares of the company's stock valued at $186,000 after acquiring an additional 412,578 shares during the period. Finally, Tiff Advisory Services LLC boosted its holdings in shares of Oncology Institute by 13.2% during the fourth quarter. Tiff Advisory Services LLC now owns 2,979,141 shares of the company's stock valued at $921,000 after acquiring an additional 346,256 shares during the period. Institutional investors and hedge funds 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.