Lake Street Capital Has Lowered Expectations for Oncology Institute (NASDAQ:STLN) Stock Price

Oncology Institute (NASDAQ:STLN) had its price objective decreased by stock analysts at Lake Street Capital from $10.00 to $8.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital‘s price objective would suggest a potential upside of 120.99% from the stock’s current price.

A number of other brokerages have also weighed in on STLN. Needham & Company LLC boosted their price objective on shares of Oncology Institute from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. BTIG Research increased their target price on shares of Oncology Institute from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a research report on Tuesday, November 3rd. Finally, B. Riley Financial reissued a “buy” rating and issued a $10.00 price target (down from $11.00) on shares of Oncology Institute in a research note on Friday. Four equities 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, Oncology Institute has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Oncology Institute Price Performance

Shares of Oncology Institute stock opened at $3.62 on Friday. The company has a market cap of $357.80 million, a price-to-earnings ratio of -12.48 and a beta of 0.44. The firm’s 50-day moving average price is $6.43. Oncology Institute has a 12 month low of $2.32 and a 12 month high of $7.13.

Oncology Institute (NASDAQ:STLN) last released its earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $169.77 million during the quarter. On average, analysts expect that Oncology Institute will post -0.21 EPS for the current year.

Insider Activity at Oncology Institute

In other Oncology Institute news, Director Brad Hively sold 298,853 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $6.51, for a total value of $1,945,533.03. Following the completion of the sale, the director owned 411,976 shares in the company, valued at approximately $2,681,963.76. The trade was a 42.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 12,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $6.54 per share, with a total value of $78,480.00. Following the purchase, the insider owned 10,660,858 shares of the company’s stock, valued at approximately $69,722,011.32. This trade represents a 0.11% increase in their position. The SEC filing for this purchase provides additional information. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in STLN. BlackRock Inc. bought a new position in shares of Oncology Institute during the second quarter valued at about $25,787,000. State Street Corp purchased a new stake in shares of Oncology Institute during the second quarter worth about $8,432,000. Manatuck Hill Partners LLC purchased a new stake in shares of Oncology Institute during the second quarter worth about $2,444,000. Walleye Capital LLC bought a new stake in shares of Oncology Institute in the second quarter worth about $2,421,000. Finally, Bank of America Corp DE bought a new stake in shares of Oncology Institute in the second quarter worth about $2,129,000. 36.86% of the stock is owned by hedge funds and other institutional investors.

Oncology Institute Company Profile

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.