The Oncology Institute, Inc. (NASDAQ:TOI – Get Rating) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,090,000 shares, a growth of 39.6% from the November 30th total of 780,600 shares. Approximately 4.2% of the shares of the company are sold short. Based on an average trading volume of 193,100 shares, the short-interest ratio is currently 5.6 days.
Oncology Institute Stock Performance
TOI stock traded up $0.06 during mid-day trading on Friday, reaching $1.65. 187,771 shares of the stock traded hands, compared to its average volume of 140,027. The business has a 50-day moving average price of $2.25 and a two-hundred day moving average price of $4.51. The company has a current ratio of 4.37, a quick ratio of 4.07 and a debt-to-equity ratio of 0.62. Oncology Institute has a one year low of $0.86 and a one year high of $10.74.
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Insiders Place Their Bets
In related news, COO Matthew P. Miller bought 73,684 shares of the firm's stock in a transaction that occurred on Friday, December 16th. The shares were bought at an average cost of $0.95 per share, with a total value of $69,999.80. Following the acquisition, the chief operating officer now owns 175,325 shares in the company, valued at $166,558.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Matthew P. Miller bought 73,684 shares of Oncology Institute stock in a transaction that occurred on Friday, December 16th. The stock was bought at an average cost of $0.95 per share, with a total value of $69,999.80. Following the acquisition, the chief operating officer now owns 175,325 shares of the company's stock, valued at approximately $166,558.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mohit Kaushal sold 15,994 shares of the firm's stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $2.13, for a total transaction of $34,067.22. Following the sale, the director now owns 25,534 shares in the company, valued at approximately $54,387.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 881,195 shares of company stock worth $3,000,612. Company insiders own 10.40% of the company's stock.
Institutional Investors Weigh In On Oncology Institute
A number of institutional investors and hedge funds have recently modified their holdings of TOI. Triatomic Management LP increased its position in shares of Oncology Institute by 7.0% during the first quarter. Triatomic Management LP now owns 428,100 shares of the company's stock worth $3,052,000 after acquiring an additional 28,100 shares during the period. Vanguard Group Inc. raised its position in Oncology Institute by 89.5% during the 1st quarter. Vanguard Group Inc. now owns 838,321 shares of the company's stock valued at $5,977,000 after purchasing an additional 395,977 shares in the last quarter. Northern Trust Corp purchased a new stake in shares of Oncology Institute in the 1st quarter worth $129,000. State Street Corp bought a new position in shares of Oncology Institute during the 1st quarter worth $222,000. Finally, First Republic Investment Management Inc. purchased a new position in shares of Oncology Institute during the first quarter valued at $130,000. 70.45% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Guggenheim cut their target price on shares of Oncology Institute from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, November 11th.
Oncology Institute Company Profile
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The Oncology Institute, Inc, an oncology company, provides medical oncology services in the United States. Its services include physician services, in-house infusion and dispensary, clinical trial services, radiation, outpatient stem cell transplants and transfusions programs, and patient support. The company also offers and manages clinical trial services, such as managing clinical trials, palliative care programs, and stem cell transplants services.
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