Oncology Institute (NASDAQ:TOI) Shares Up 2.9% - Here's What Happened

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) shot up 2.9% during mid-day trading on Thursday . The company traded as high as $3.35 and last traded at $3.21. 1,771,774 shares traded hands during mid-day trading, an increase of 90% from the average session volume of 932,636 shares. The stock had previously closed at $3.12.

Analyst Ratings Changes

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 on the stock.

Oncology Institute Stock Performance

The company has a market capitalization of $286.44 million, a price-to-earnings ratio of -4.12 and a beta of 0.04. 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 firm has a 50-day simple moving average of $2.33 and a two-hundred day simple moving average of $1.16.

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

Insiders Place Their Bets

In related news, Director Mark L. Pacala bought 90,562 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $1.04 per share, with a total value of $94,184.48. Following the purchase, the director now directly owns 224,971 shares of the company's stock, valued at $233,969.84. This trade represents a 67.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Growth I. L.P. M33 sold 203,532 shares of the business's stock in a transaction 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 transaction, the director now directly owns 1,349,048 shares of the company's stock, valued at $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. Insiders acquired a total of 122,258 shares of company stock worth $127,148 over the last 90 days. Corporate insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC increased 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 valued at $39,000 after buying an additional 109,769 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Oncology Institute in the 4th quarter valued at about $41,000. Renaissance Technologies LLC increased its holdings in shares of Oncology Institute by 7.1% in the 4th 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 last quarter. XTX Topco Ltd increased its holdings in shares of Oncology Institute by 49.5% in the 1st quarter. XTX Topco Ltd now owns 55,698 shares of the company's stock valued at $63,000 after acquiring an additional 18,448 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Oncology Institute in the 1st quarter valued at about $71,000. 36.86% of the stock is owned by institutional investors and hedge funds.

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.