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Manatuck Hill Partners LLC purchased a new position in shares of The Oncology Institute, Inc. (NASDAQ:TOI – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 450,000 shares of the company’s stock, valued at approximately $2,444,000. Manatuck Hill Partners LLC owned about 0.46% of Oncology Institute as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Oncology Institute in the 2nd quarter worth about $25,787,000. Vanguard Group Inc. raised its holdings in shares of Oncology Institute by 6.2% during the third quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company’s stock valued at $15,863,000 after acquiring an additional 264,358 shares during the last quarter. CenterBook Partners LP lifted its position in shares of Oncology Institute by 12.0% in the fourth quarter. CenterBook Partners LP now owns 3,029,312 shares of the company’s stock valued at $10,784,000 after acquiring an additional 324,662 shares in the last quarter. Kanen Wealth Management LLC lifted its position in shares of Oncology Institute by 61.6% in the fourth quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company’s stock valued at $10,712,000 after acquiring an additional 1,134,043 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Oncology Institute by 17.3% in the second quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock worth $5,163,000 after acquiring an additional 371,005 shares during the last quarter. 36.86% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Needham & Company LLC boosted their price target on Oncology Institute from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Lake Street Capital began coverage on Oncology Institute in a report on Monday, July 6th. They issued a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research note on Friday, July 17th. Finally, BTIG Research upped their target price on shares of Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Oncology Institute currently has an average rating of “Moderate Buy” and an average target price of $8.50.
Oncology Institute Price Performance
TOI stock opened at $5.19 on Wednesday. The business has a 50 day simple moving average of $5.31 and a 200-day simple moving average of $4.15. The firm has a market capitalization of $512.58 million, a PE ratio of -14.02 and a beta of 0.39. The Oncology Institute, Inc. has a 1 year low of $2.32 and a 1 year high of $6.67.
Oncology Institute (NASDAQ:TOI – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $161.28 million during the quarter, compared to analysts’ expectations of $155.28 million. On average, equities research analysts expect that The Oncology Institute, Inc. will post -0.18 EPS for the current year.
Insider Buying and Selling at Oncology Institute
In other news, insider Yale Podnos sold 23,451 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.38, for a total transaction of $126,166.38. Following the transaction, the insider owned 259,527 shares of the company’s stock, valued at approximately $1,396,255.26. The trade was a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett acquired 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $5.02 per share, with a total value of $90,360.00. Following the acquisition, the insider directly owned 10,615,858 shares of the company’s stock, valued at $53,291,607.16. This trade represents a 0.17% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 63,000 shares of company stock worth $329,970. Insiders own 4.40% of the company’s 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. 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.
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