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

Key Points

• Unusual options activity: Traders bought 25,717 call options on Oncology Institute, nearly 24 times the typical daily volume of about 1,030 calls, suggesting elevated bullish speculation.
• Shares and earnings context: TOI shares rose to $5.84, near their 52-week high of $6.11, after the company reported quarterly EPS of -$0.02, beating estimates, and revenue of $147.44 million, also above expectations.
• Analyst sentiment remains positive: Recent coverage includes multiple buy ratings and higher price targets, with Wall Street’s consensus at a Moderate Buy and an average target price of $8.20.

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) was the recipient of some unusual options trading on Thursday. Investors acquired 25,717 call options on the stock. This is an increase of approximately 2,397% compared to the typical daily volume of 1,030 call options.

Oncology Institute Stock Performance

Shares of NASDAQ:TOI traded up $0.20 during midday trading on Thursday, hitting $5.84. The company's stock had a trading volume of 1,091,306 shares, compared to its average volume of 1,898,188. The stock's 50 day simple moving average is $4.72 and its 200 day simple moving average is $3.71. Oncology Institute has a fifty-two week low of $2.32 and a fifty-two week high of $6.11. The stock has a market capitalization of $577.72 million, a price-to-earnings ratio of -15.80 and a beta of 0.36.

Oncology Institute (NASDAQ:TOI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.05. The company had revenue of $147.44 million for the quarter, compared to the consensus estimate of $142.10 million. As a group, analysts anticipate that Oncology Institute will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TOI. B. Riley Financial upped their price target on Oncology Institute from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, March 13th. BTIG Research upped their target price on Oncology Institute from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Lake Street Capital initiated coverage on Oncology Institute in a research note on Monday. They set a "buy" rating and a $10.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncology Institute in a report on Monday, April 20th. Finally, Needham & Company LLC boosted their price target on Oncology Institute from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.20.

Insider Buying and Selling at Oncology Institute

In related news, insider Yale Podnos sold 23,451 shares of Oncology Institute stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.38, for a total transaction of $126,166.38. Following the sale, the insider directly owned 259,527 shares in the company, valued at $1,396,255.26. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohit Kaushal sold 38,433 shares of the company's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $3.50, for a total transaction of $134,515.50. Following the completion of the sale, the director directly owned 172,583 shares of the company's stock, valued at $604,040.50. The trade was a 18.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have acquired 98,500 shares of company stock valued at $426,655 and have sold 119,170 shares valued at $461,183. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oncology Institute

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Oncology Institute by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company's stock valued at $15,863,000 after acquiring an additional 264,358 shares in the last quarter. CenterBook Partners LP increased its holdings in Oncology Institute by 12.0% during the fourth quarter. CenterBook Partners LP now owns 3,029,312 shares of the company's stock worth $10,784,000 after buying an additional 324,662 shares during the last quarter. Kanen Wealth Management LLC increased its holdings in Oncology Institute by 61.6% during the fourth quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company's stock worth $10,712,000 after buying an additional 1,134,043 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Oncology Institute by 17.3% during the second quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company's stock worth $5,163,000 after acquiring an additional 371,005 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC lifted its stake in Oncology Institute by 1,104.3% in the 4th quarter. Josh Arnold Investment Consultant LLC now owns 2,459,809 shares of the company's stock valued at $8,757,000 after purchasing an additional 2,255,559 shares during the last quarter. Institutional investors own 36.86% of the company's stock.

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.

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