Stock Traders Purchase Large Volume of Oncology Institute Call Options (NASDAQ:TOI)

Key Points

• Unusual options activity in Oncology Institute (NASDAQ:TOI) stood out, with traders buying 25,717 call options on Thursday — about 2,397% above the average volume of 1,030.
• Insider trading was mixed: major shareholder Jorey Chernett bought 18,000 shares, while director Mohit Kaushal sold 38,433 shares under a pre-arranged 10b5-1 plan. Over the past 90 days, insiders were net sellers overall.
• The stock rose to $5.84 and analysts remain generally upbeat, with five Buy ratings, one Sell rating, and an average price target of $8.20.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) saw some unusual options trading activity on Thursday. Stock investors purchased 25,717 call options on the company. This is an increase of 2,397% compared to the average volume of 1,030 call options.

Insider Activity at Oncology Institute

In other Oncology Institute news, major shareholder Jorey Chernett acquired 18,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $5.02 per share, with a total value of $90,360.00. Following the completion of the transaction, the insider directly owned 10,615,858 shares in the company, valued at approximately $53,291,607.16. This represents a 0.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mohit Kaushal sold 38,433 shares of the firm's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the sale, the director directly owned 172,583 shares of the company's stock, valued at $604,040.50. This represents a 18.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders bought 98,500 shares of company stock worth $426,655 and sold 119,170 shares worth $461,183. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oncology Institute

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC acquired a new position in Oncology Institute in the 4th quarter valued at approximately $31,000. Pekin Hardy Strauss Inc. bought a new stake in Oncology Institute in the 4th quarter valued at about $36,000. Cetera Investment Advisers lifted its position in Oncology Institute by 35.0% in the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company's stock valued at $36,000 after acquiring an additional 4,545 shares in the last quarter. State of Wyoming bought a new position in shares of Oncology Institute during the second quarter valued at about $37,000. Finally, R Squared Ltd bought a new position in shares of Oncology Institute in the fourth quarter valued at approximately $41,000. 36.86% of the stock is currently owned by institutional investors.

Oncology Institute Price Performance

TOI traded up $0.20 on Thursday, hitting $5.84. 1,091,306 shares of the stock were exchanged, compared to its average volume of 1,898,188. The firm has a market capitalization of $577.72 million, a price-to-earnings ratio of -15.80 and a beta of 0.36. Oncology Institute has a 12 month low of $2.32 and a 12 month high of $6.11. The business has a 50-day moving average of $4.72 and a two-hundred day moving average of $3.71.

Oncology Institute (NASDAQ:TOI - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $147.44 million during the quarter, compared to analyst estimates of $142.10 million. Equities research analysts expect that Oncology Institute will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TOI shares. BTIG Research lifted their target price on Oncology Institute from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Lake Street Capital started coverage on shares of Oncology Institute in a report on Monday. They issued a "buy" rating and a $10.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Oncology Institute in a research report on Monday, April 20th. Needham & Company LLC raised their target price on shares of Oncology Institute from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Finally, B. Riley Financial lifted their price target on shares of Oncology Institute from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Oncology Institute has an average rating of "Moderate Buy" and an average target price of $8.20.

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. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.

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.