Oncology Institute (NASDAQ:STLN) Stock Price Breaks Above 50 Day Moving Average - Here's Why

Key Points

• Oncology Institute shares rose 9.5%, moving above their 50-day moving average of $6.48 and reaching $7.04; they last traded at $6.94.
• Analysts have a Moderate Buy consensus and an average $9 price target, with four Buy ratings and one Sell rating.
• Quarterly revenue of $161.28 million exceeded the $152.80 million consensus estimate, while EPS was a loss of $0.08. A major shareholder bought 12,000 shares, while a director sold 298,853 shares.

Oncology Institute, Inc. (NASDAQ:STLN - Get Free Report)'s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $6.48 and traded as high as $7.04. Oncology Institute shares last traded at $6.94, with a volume of 1,688,077 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have commented on STLN. Weiss Ratings restated a "sell (d-)" rating on shares of Oncology Institute in a research report on Tuesday. Needham & Company LLC increased their price target on Oncology Institute from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, October 14th. Finally, BTIG Research raised their price objective on Oncology Institute from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Oncology Institute Trading Up 9.5%

The business's fifty day moving average is $6.48. The company has a market cap of $685.95 million, a PE ratio of -23.13 and a beta of 0.44.

Oncology Institute (NASDAQ:STLN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $161.28 million during the quarter, compared to the consensus estimate of $152.80 million. Analysts forecast that Oncology Institute, Inc. will post -0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Jorey Chernett bought 12,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $6.54 per share, with a total value of $78,480.00. Following the purchase, the insider owned 10,660,858 shares in the company, valued at approximately $69,722,011.32. The trade was a 0.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.40% of the company's stock.

Institutional Trading of Oncology Institute

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp purchased a new position in Oncology Institute in the second quarter worth approximately $8,432,000. The Manufacturers Life Insurance Company acquired a new position in Oncology Institute during the 2nd quarter worth approximately $111,000. WINTON GROUP Ltd purchased a new stake in shares of Oncology Institute in the 2nd quarter valued at approximately $102,000. Engineers Gate Manager LP purchased a new stake in shares of Oncology Institute in the 2nd quarter valued at approximately $67,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Oncology Institute in the 2nd quarter valued at approximately $396,000. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.