Stock Traders Buy High Volume of Oncology Institute Call Options (NASDAQ:STLN)

Key Points

• Investors bought 10,914 Oncology Institute call options, about 365% above the average daily volume of 2,346.
• The stock rose 6.4% to $4.25 on Tuesday, with trading volume more than twice its average.
• The company reported a quarterly loss of $0.13 per share, missing the $0.07 loss analysts expected. Analysts’ consensus rating was “Moderate Buy,” with a $9.25 average price target.

Oncology Institute, Inc. (NASDAQ:STLN - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors acquired 10,914 call options on the company. This is an increase of approximately 365% compared to the average daily volume of 2,346 call options.

Oncology Institute Stock Up 6.4%

STLN stock traded up $0.26 during trading on Tuesday, hitting $4.25. The company had a trading volume of 4,032,692 shares, compared to its average volume of 1,883,973. The firm has a 50 day moving average price of $6.39. The company has a market capitalization of $420.56 million, a price-to-earnings ratio of -14.69 and a beta of 0.44. Oncology Institute has a fifty-two week low of $2.32 and a fifty-two week high of $7.13.

Oncology Institute (NASDAQ:STLN - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $169.77 million for the quarter. As a group, equities analysts predict that Oncology Institute will post -0.21 EPS for the current fiscal year.

Insider Activity

In other Oncology Institute news, Director Brad Hively sold 298,853 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $6.51, for a total value of $1,945,533.03. Following the transaction, the director owned 411,976 shares of the company's stock, valued at $2,681,963.76. This trade represents a 42.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 12,000 shares of the firm's stock in a transaction on Friday, August 14th. The stock was bought at an average price of $6.54 per share, with a total value of $78,480.00. Following the completion of the purchase, the insider owned 10,660,858 shares of the company's stock, valued at $69,722,011.32. This trade represents a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oncology Institute

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Oncology Institute in the 2nd quarter worth approximately $25,787,000. State Street Corp bought a new stake in Oncology Institute during the second quarter worth approximately $8,432,000. Manatuck Hill Partners LLC bought a new stake in Oncology Institute during the second quarter worth approximately $2,444,000. Walleye Capital LLC bought a new stake in Oncology Institute during the second quarter worth approximately $2,421,000. Finally, Bank of America Corp DE acquired a new position in Oncology Institute in the second quarter worth approximately $2,129,000. 36.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Oncology Institute in a research note on Tuesday, November 3rd. Needham & Company LLC boosted their target price on shares of Oncology Institute from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, October 14th. Lake Street Capital decreased their target price on shares of Oncology Institute from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Friday. BTIG Research raised their price target on shares of Oncology Institute from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday. Finally, B. Riley Financial reiterated a "buy" rating and set a $10.00 price objective (down from $11.00) on shares of Oncology Institute in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.25.

About Oncology Institute

The Oncology Institute is a value-based oncology care company focused on delivering comprehensive cancer treatment and related services through community-based care settings. Its model is designed to support patients throughout the cancer-care journey while coordinating treatment among oncologists, primary-care providers, specialists and other healthcare professionals. The company provides medical oncology and hematology services, cancer screening and diagnosis, treatment planning, chemotherapy and other infusion therapies, supportive care, survivorship services and care-management programs.

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