Oncology Institute (NASDAQ:TOI) Given New $8.00 Price Target at B. Riley Financial

Oncology Institute (NASDAQ:TOI) had its target price boosted by B. Riley Financial from $6.00 to $8.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price objective points to a potential upside of 180.11% from the stock’s previous close.

Several other brokerages have also weighed in on TOI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Wednesday, January 21st. BTIG Research reissued a “buy” rating and set a $7.00 price target on shares of Oncology Institute in a research report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of Oncology Institute in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Oncology Institute Trading Up 9.0%

Shares of NASDAQ TOI traded up $0.24 on Friday, reaching $2.86. 7,713,693 shares of the company traded hands, compared to its average volume of 1,961,004. Oncology Institute has a fifty-two week low of $0.63 and a fifty-two week high of $4.88. The company has a 50 day moving average of $3.02 and a 200 day moving average of $3.39. The stock has a market capitalization of $280.97 million, a PE ratio of -4.45 and a beta of 0.14.

Oncology Institute (NASDAQ:TOI) last released its earnings results on Thursday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Oncology Institute had a negative net margin of 13.21% and a negative return on equity of 1,527.21%. The business had revenue of $141.96 million for the quarter, compared to analysts’ expectations of $139.78 million.

Insider Activity at Oncology Institute

In related news, Director Brad Hively sold 13,333 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $3.77, for a total transaction of $50,265.41. Following the completion of the transaction, the director owned 683,721 shares in the company, valued at approximately $2,577,628.17. This represents a 1.91% 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. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oncology Institute

A number of hedge funds and other institutional investors have recently made changes to their positions in TOI. Kestra Advisory Services LLC bought a new stake in Oncology Institute during the fourth quarter worth $31,000. Pekin Hardy Strauss Inc. purchased a new stake in Oncology Institute during the fourth quarter valued at about $36,000. R Squared Ltd bought a new position in shares of Oncology Institute during the 4th quarter valued at about $41,000. Prelude Capital Management LLC purchased a new position in shares of Oncology Institute during the 3rd quarter valued at about $41,000. Finally, ProShare Advisors LLC purchased a new stake in Oncology Institute in the second quarter worth approximately $25,000. 36.86% of the stock is owned by institutional investors and hedge funds.

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.