Oncology Institute (NASDAQ:TOI) Trading 0.6% Higher - Here's What Happened

Key Points

• The Oncology Institute, Inc. (NASDAQ:TOI) saw its stock price increase by 0.6%, trading between $3.54 and $3.68 with a volume increase of 28% from average trading levels.
• Analysts have issued a generally positive outlook with an average rating of "Buy" and a consensus target price of $7.00, following upgrades from firms like Noble Financial and B. Riley.
• Insider activity was highlighted as a director sold 681,832 shares, reducing their ownership stake by 53.57%, while institutional investors showed increased interest during the second quarter.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report)'s stock price traded up 0.6% during trading on Friday . The company traded as high as $3.68 and last traded at $3.54. 1,962,055 shares changed hands during trading, an increase of 28% from the average session volume of 1,531,862 shares. The stock had previously closed at $3.52.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Noble Financial assumed coverage on Oncology Institute in a research report on Wednesday, July 23rd. They set an "outperform" rating and a $8.00 price objective for the company. B. Riley assumed coverage on Oncology Institute in a research report on Wednesday, July 16th. They set a "buy" rating and a $6.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $7.00.

Oncology Institute Price Performance

The stock has a fifty day moving average price of $3.57 and a 200-day moving average price of $2.74. The company has a market cap of $331.01 million, a PE ratio of -5.21 and a beta of 0.10. The company has a debt-to-equity ratio of 14.58, a current ratio of 1.62 and a quick ratio of 1.37.

Insider Activity

In other news, Director Growth I. L.P. M33 sold 681,832 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $3.09, for a total value of $2,106,860.88. Following the completion of the sale, the director owned 590,892 shares in the company, valued at $1,825,856.28. This represents a 53.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by insiders.

Institutional Trading of Oncology Institute

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming purchased a new stake in shares of Oncology Institute during the second quarter worth $37,000. Massar Capital Management LP raised its holdings in shares of Oncology Institute by 300.0% during the second quarter. Massar Capital Management LP now owns 400,000 shares of the company's stock worth $820,000 after acquiring an additional 300,000 shares in the last quarter. FourWorld Capital Management LLC raised its holdings in shares of Oncology Institute by 52.4% during the second quarter. FourWorld Capital Management LLC now owns 391,650 shares of the company's stock worth $803,000 after acquiring an additional 134,650 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of 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 worth $5,163,000 after acquiring an additional 371,005 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Oncology Institute by 779.9% during the second quarter. Bank of America Corp DE now owns 25,808 shares of the company's stock worth $53,000 after acquiring an additional 22,875 shares in the last quarter. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

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