Brokerages Set The Oncology Institute, Inc. (NASDAQ:TOI) Target Price at $8.20

The Oncology Institute, Inc. (NASDAQ:TOI) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.40.

A number of equities analysts have recently commented on TOI shares. Lake Street Capital started coverage on Oncology Institute in a report on Monday, July 6th. They issued a “buy” rating and a $10.00 price objective on the stock. Needham & Company LLC boosted their target price on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. Finally, BTIG Research increased their target price on shares of Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday.

Insider Transactions at Oncology Institute

In related news, Director Mohit Kaushal sold 38,433 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were 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 approximately $604,040.50. This represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett purchased 18,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $5.02 per share, with a total value of $90,360.00. Following the completion of the acquisition, the insider owned 10,615,858 shares in the company, valued at $53,291,607.16. This represents a 0.17% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 98,500 shares of company stock valued at $426,655 and sold 119,170 shares valued at $461,183. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Oncology Institute

Institutional investors and hedge funds have recently modified their holdings of the stock. Fermata Advisors LLC acquired a new stake in shares of Oncology Institute in the second quarter valued at about $70,000. Bank of America Corp DE lifted its position in Oncology Institute by 36.6% during the 1st quarter. Bank of America Corp DE now owns 63,439 shares of the company’s stock worth $195,000 after acquiring an additional 16,991 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in Oncology Institute during the 1st quarter worth approximately $154,000. Royal Bank of Canada lifted its position in Oncology Institute by 335.9% during the 1st quarter. Royal Bank of Canada now owns 22,257 shares of the company’s stock worth $68,000 after acquiring an additional 17,151 shares in the last quarter. Finally, FourWorld Capital Management LLC boosted its holdings in Oncology Institute by 30.4% in the 1st quarter. FourWorld Capital Management LLC now owns 499,196 shares of the company’s stock worth $1,533,000 after acquiring an additional 116,496 shares during the period. Hedge funds and other institutional investors own 36.86% of the company’s stock.

Oncology Institute Price Performance

Shares of NASDAQ TOI opened at $5.89 on Monday. The stock has a market capitalization of $582.17 million, a PE ratio of -15.92 and a beta of 0.36. The firm has a fifty day moving average of $4.81 and a 200-day moving average of $3.74. Oncology Institute has a 52-week low of $2.32 and a 52-week high of $6.11.

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

Oncology Institute Company Profile

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.