Oncology Institute Target of Unusually Large Options Trading (NASDAQ:TOI)

Key Points

• The Oncology Institute, Inc. (NASDAQ:TOI) experienced a significant increase in options trading, with 6,013 call options bought, marking a 473% increase compared to average volumes.
• Wall Street analysts have mixed opinions, with BTIG Research setting a price target of $7.00, while Weiss Ratings issued a sell rating on the stock.
• Insider activity included Director Growth I. L.P. M33 selling over 6 million shares of the company, representing a 43.14% decrease in their holdings.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock traders bought 6,013 call options on the stock. This is an increase of 473% compared to the typical volume of 1,049 call options.

Wall Street Analysts Forecast Growth

TOI has been the subject of several recent research reports. BTIG Research reissued a "buy" rating and issued a $7.00 price target on shares of Oncology Institute in a research report on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Oncology Institute in a research report on Wednesday, October 8th. Noble Financial initiated coverage on Oncology Institute in a research report on Wednesday, July 23rd. They set an "outperform" rating and a $8.00 target price on the stock. Finally, B. Riley initiated coverage on Oncology Institute in a research report on Wednesday, July 16th. They set a "buy" rating and a $6.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.00.

Oncology Institute Stock Performance

Oncology Institute stock traded up $0.21 during trading hours on Thursday, hitting $4.60. 1,345,257 shares of the stock traded hands, compared to its average volume of 1,531,334. The company has a debt-to-equity ratio of 14.58, a current ratio of 1.62 and a quick ratio of 1.37. The firm's 50 day moving average price is $3.57 and its 200-day moving average price is $3.09. The stock has a market capitalization of $429.63 million, a price-to-earnings ratio of -6.69 and a beta of 0.08. Oncology Institute has a 1 year low of $0.13 and a 1 year high of $4.64.

Insider Activity at Oncology Institute

In other news, Director Growth I. L.P. M33 sold 6,018,168 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $3.09, for a total value of $18,596,139.12. Following the completion of the transaction, the director directly owned 7,932,389 shares of the company's stock, valued at approximately $24,511,082.01. The trade was a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company's stock.

Institutional Trading of Oncology Institute

Several large investors have recently added to or reduced their stakes in TOI. ProShare Advisors LLC purchased a new stake in shares of Oncology Institute in the second quarter worth about $25,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Oncology Institute in the second quarter worth about $32,000. Cetera Investment Advisers boosted its stake in shares of Oncology Institute by 35.0% in the second quarter. Cetera Investment Advisers now owns 17,545 shares of the company's stock worth $36,000 after buying an additional 4,545 shares during the last quarter. State of Wyoming purchased a new stake in shares of Oncology Institute in the second quarter worth about $37,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Oncology Institute in the second quarter worth about $43,000. Hedge funds and other institutional investors 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.

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