Oncology Institute Sees Unusually High Options Volume (NASDAQ:TOI)

The Oncology Institute, Inc. (NASDAQ:TOI) saw unusually large options trading activity on Thursday. Stock investors purchased 25,717 call options on the stock. This is an increase of approximately 2,397% compared to the average daily volume of 1,030 call options.

Oncology Institute Trading Up 0.7%

Shares of NASDAQ:TOI traded up $0.04 during trading on Friday, hitting $5.89. 3,929,311 shares of the company were exchanged, compared to its average volume of 1,743,573. 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 cap of $582.17 million, a price-to-earnings ratio of -15.92 and a beta of 0.36. The firm has a fifty day moving average price of $4.81 and a two-hundred day moving average price of $3.74.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Lake Street Capital began coverage on Oncology Institute in a research report on Monday, July 6th. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. BTIG Research lifted their price objective on shares of Oncology Institute from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday. B. Riley Financial boosted their price objective on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Needham & Company LLC raised their target price on shares of Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.40.

Insider Transactions at Oncology Institute

In other Oncology Institute news, insider Yale Podnos sold 23,451 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.38, for a total transaction of $126,166.38. Following the completion of the transaction, the insider owned 259,527 shares in the company, valued at approximately $1,396,255.26. This represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohit Kaushal sold 38,433 shares of Oncology Institute stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the completion of the sale, the director directly owned 172,583 shares in the company, 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. Over the last quarter, insiders purchased 98,500 shares of company stock valued at $426,655 and sold 119,170 shares valued at $461,183. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Oncology Institute

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

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.