Oncology Institute, Inc. (NASDAQ:STLN – Get Free Report) major shareholder Jorey Chernett sold 2,851,061 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $3.99, for a total transaction of $11,375,733.39. Following the completion of the transaction, the insider directly owned 7,809,797 shares in the company, valued at $31,161,090.03. This represents a 26.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Jorey Chernett also recently made the following trade(s):
- On Monday, November 9th, Jorey Chernett acquired 48,294 shares of Oncology Institute stock. The shares were purchased at an average price of $3.65 per share, with a total value of $176,273.10.
- On Friday, August 14th, Jorey Chernett bought 12,000 shares of Oncology Institute stock. The stock was purchased at an average price of $6.54 per share, with a total value of $78,480.00.
Oncology Institute Trading Up 8.5%
Shares of STLN stock traded up $0.34 during mid-day trading on Tuesday, hitting $4.34. The stock had a trading volume of 6,346,120 shares, compared to its average volume of 1,896,865. The firm has a market cap of $428.97 million, a price-to-earnings ratio of -14.97 and a beta of 0.44. The company has a 50-day simple moving average of $6.36. Oncology Institute, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $7.13.
Oncology Institute (NASDAQ:STLN – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The firm had revenue of $169.77 million for the quarter. Research analysts expect that Oncology Institute, Inc. will post -0.21 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have issued reports on STLN. Lake Street Capital dropped their target price on Oncology Institute from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncology Institute in a report on Tuesday, November 3rd. 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 report on Friday. BTIG Research lifted their price target on Oncology Institute from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday. Finally, Needham & Company LLC upped their price objective on Oncology Institute from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Oncology Institute currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.
Check Out Our Latest Analysis on STLN
Hedge Funds Weigh In On Oncology Institute
A number of large investors have recently made changes to their positions in STLN. Legal & General Group Plc purchased a new position in Oncology Institute in the second quarter valued at about $41,000. AMG National Trust Bank acquired a new stake in shares of Oncology Institute during the 2nd quarter valued at approximately $54,000. Engineers Gate Manager LP acquired a new stake in shares of Oncology Institute during the 2nd quarter valued at approximately $67,000. Royal Bank of Canada boosted its stake in shares of 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, Fermata Advisors LLC purchased a new stake in shares of Oncology Institute during the 2nd quarter worth approximately $70,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.
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.
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