Oncology Institute (NASDAQ:STLN) Sees Strong Trading Volume Following Analyst Upgrade

Key Points

• BTIG raised its price target on Oncology Institute to $10 from $9 and maintained a Buy rating. Shares traded about 5% above average volume, while the stock was reported at $4.96 after a prior close of $6.70.
• Analyst views are mixed: four analysts rate the stock Buy and one rates it Sell, producing a consensus Moderate Buy rating and a $9.25 price target.
• The company reported a quarterly loss of $0.13 per share, missing estimates of a $0.07 loss; revenue was $169.77 million.

Shares of Oncology Institute, Inc. (NASDAQ:STLN - Get Free Report) saw unusually-high trading volume on Friday after BTIG Research raised their price target on the stock from $9.00 to $10.00. BTIG Research currently has a buy rating on the stock. Approximately 1,820,317 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 1,733,065 shares. The stock last traded at $4.9590 and had previously closed at $6.70.

Several other analysts also recently commented on STLN. Needham & Company LLC lifted their target price on shares of Oncology Institute from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, October 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Oncology Institute currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.25.

Insider Activity at Oncology Institute

In other news, major shareholder Jorey Chernett purchased 12,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $6.54 per share, with a total value of $78,480.00. Following the acquisition, the insider owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. This trade represents a 0.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad Hively sold 298,853 shares of the business's stock in a transaction on 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 completion of the sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Oncology Institute

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in Oncology Institute during the second quarter worth about $961,000. Bank of America Corp DE acquired a new stake in Oncology Institute in the 2nd quarter worth about $2,129,000. State Street Corp bought a new stake in Oncology Institute in the 2nd quarter valued at about $8,432,000. Arrowstreet Capital Limited Partnership boosted its holdings in Oncology Institute by 169.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 419,423 shares of the company's stock valued at $1,288,000 after purchasing an additional 263,699 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Oncology Institute by 427.8% in the 1st quarter. Cetera Investment Advisers now owns 128,195 shares of the company's stock valued at $394,000 after purchasing an additional 103,908 shares during the period. Institutional investors own 36.86% of the company's stock.

Oncology Institute Trading Down 25.7%

The company has a 50-day moving average of $6.49. The firm has a market cap of $491.83 million, a PE ratio of -16.60 and a beta of 0.44.

Oncology Institute (NASDAQ:STLN - Get Free Report) last announced 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 firm had revenue of $169.77 million for the quarter. As a group, sell-side analysts predict that Oncology Institute, Inc. will post -0.21 earnings per share for the current year.

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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