Oncology Institute (NASDAQ:TOI) Trading 2.9% Higher - What's Next?

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report)'s stock price rose 2.9% on Thursday . The stock traded as high as $3.35 and last traded at $3.21. Approximately 1,771,774 shares changed hands during trading, an increase of 90% from the average daily volume of 932,636 shares. The stock had previously closed at $3.12.

Analysts Set New Price Targets

Separately, BTIG Research assumed coverage on Oncology Institute in a research report on Thursday, May 15th. They issued a "buy" rating and a $7.00 target price for the company.

Oncology Institute Stock Performance

The stock has a market capitalization of $285.55 million, a P/E ratio of -4.10 and a beta of 0.04. The firm has a 50-day moving average of $2.41 and a 200 day moving average of $1.20. The company has a quick ratio of 2.27, a current ratio of 2.49 and a debt-to-equity ratio of 5.91.

Oncology Institute (NASDAQ:TOI - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.18) EPS for the quarter. The firm had revenue of $104.41 million during the quarter. Oncology Institute had a negative return on equity of 186.83% and a negative net margin of 17.63%.

Insider Transactions at Oncology Institute

In related news, Director Mark L. Pacala bought 90,562 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average cost of $1.04 per share, with a total value of $94,184.48. Following the acquisition, the director now owns 224,971 shares in the company, valued at approximately $233,969.84. This represents a 67.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Growth I. L.P. M33 sold 203,532 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $2.71, for a total value of $551,571.72. Following the completion of the transaction, the director now directly owns 1,349,048 shares of the company's stock, valued at approximately $3,655,920.08. The trade was a 13.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 122,258 shares of company stock valued at $127,148. Corporate insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Oncology Institute

Several institutional investors have recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in shares of Oncology Institute by 613.6% during 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 last quarter. Virtu Financial LLC acquired a new stake in Oncology Institute in the 4th quarter valued at about $41,000. Renaissance Technologies LLC raised its stake in shares of Oncology Institute by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 182,000 shares of the company's stock worth $56,000 after acquiring an additional 12,000 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Oncology Institute by 49.5% in the first quarter. XTX Topco Ltd now owns 55,698 shares of the company's stock worth $63,000 after acquiring an additional 18,448 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Oncology Institute in the first quarter worth about $71,000. Institutional investors 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.