Insider Selling: The Oncology Institute, Inc. (NASDAQ:TOI) Director Sells 1,976,137 Shares of Stock

The Oncology Institute, Inc. (NASDAQ:TOI) Director Brad Hively sold 1,976,137 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $2.87, for a total value of $5,671,513.19. Following the completion of the transaction, the director now owns 603,501 shares of the company’s stock, valued at $1,732,047.87. This represents a 76.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Oncology Institute Trading Down 0.4%

TOI opened at $2.78 on Friday. The stock has a market capitalization of $248.07 million, a P/E ratio of -3.56 and a beta of 0.13. The company has a current ratio of 2.49, a quick ratio of 2.27 and a debt-to-equity ratio of 5.91. The Oncology Institute, Inc. has a 12 month low of $0.13 and a 12 month high of $3.50. The firm’s fifty day simple moving average is $2.52 and its 200 day simple moving average is $1.26.

Oncology Institute (NASDAQ:TOI) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $104.41 million during the quarter. Oncology Institute had a negative net margin of 17.63% and a negative return on equity of 186.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TOI. Tiff Advisory Services LLC grew its stake in shares of Oncology Institute by 13.2% during the 4th quarter. Tiff Advisory Services LLC now owns 2,979,141 shares of the company’s stock worth $921,000 after acquiring an additional 346,256 shares in the last quarter. Josh Arnold Investment Consultant LLC acquired a new position in Oncology Institute during the first quarter worth $2,267,000. FreeGulliver LLC boosted its holdings in Oncology Institute by 219.3% during the fourth quarter. FreeGulliver LLC now owns 600,747 shares of the company’s stock worth $186,000 after purchasing an additional 412,578 shares during the last quarter. Renaissance Technologies LLC grew its position in Oncology Institute by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 182,000 shares of the company’s stock valued at $56,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Oncology Institute in the fourth quarter valued at $41,000. 36.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, BTIG Research began coverage on shares of Oncology Institute in a report on Thursday, May 15th. They set a “buy” rating and a $7.00 target price on the 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.