The Oncology Institute, Inc. (NASDAQ:TOI) Sees Significant Increase in Short Interest

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,870,000 shares, an increase of 26.4% from the April 30th total of 1,480,000 shares. Currently, 4.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, BTIG Research initiated coverage on Oncology Institute in a research report on Thursday, May 15th. They set a "buy" rating and a $7.00 price target for the company.

Insider Transactions at Oncology Institute

In other Oncology Institute news, Director Growth I. L.P. M33 sold 1,796,468 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $2.71, for a total transaction of $4,868,428.28. Following the completion of the transaction, the director now directly owns 14,624,233 shares of the company's stock, valued at approximately $39,631,671.43. This trade represents a 10.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark L. Pacala acquired 90,562 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of $1.04 per share, with a total value of $94,184.48. Following the completion of the purchase, the director now owns 224,971 shares in the company, valued at approximately $233,969.84. This trade represents a 67.38% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 122,258 shares of company stock worth $127,148. Company insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Oncology Institute

A number of large investors have recently modified their holdings of TOI. Virtu Financial LLC acquired a new position in Oncology Institute during the fourth quarter worth about $41,000. Renaissance Technologies LLC boosted its holdings in shares of Oncology Institute by 7.1% during the 4th quarter. Renaissance Technologies LLC now owns 182,000 shares of the company's stock worth $56,000 after purchasing an additional 12,000 shares during the last quarter. FreeGulliver LLC grew its position in shares of Oncology Institute by 219.3% in the fourth quarter. FreeGulliver LLC now owns 600,747 shares of the company's stock valued at $186,000 after purchasing an additional 412,578 shares in the last quarter. Tiff Advisory Services LLC increased its holdings in shares of Oncology Institute by 13.2% in the fourth quarter. Tiff Advisory Services LLC now owns 2,979,141 shares of the company's stock valued at $921,000 after purchasing an additional 346,256 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Oncology Institute during the first quarter worth approximately $131,000. Hedge funds and other institutional investors own 36.86% of the company's stock.

Oncology Institute Stock Performance

TOI remained flat at $3.20 during trading on Wednesday. The company's stock had a trading volume of 720,769 shares, compared to its average volume of 972,334. The company has a quick ratio of 2.27, a current ratio of 2.49 and a debt-to-equity ratio of 5.91. The company has a market cap of $285.55 million, a price-to-earnings ratio of -4.10 and a beta of 0.04. The business's fifty day moving average price is $2.41 and its two-hundred day moving average price is $1.20. Oncology Institute has a one year low of $0.13 and a one year high of $3.50.

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

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.