The Oncology Institute, Inc. (NASDAQ:TOI – Get Rating) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,090,000 shares, an increase of 39.6% from the November 30th total of 780,600 shares. Approximately 4.2% of the company's shares are short sold. Based on an average trading volume of 193,100 shares, the days-to-cover ratio is currently 5.6 days.
Analyst Upgrades and Downgrades
Separately, Guggenheim cut their target price on shares of Oncology Institute from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, November 11th.
Get Oncology Institute alerts:Insider Buying and Selling at Oncology Institute
In other Oncology Institute news, COO Matthew P. Miller acquired 73,684 shares of Oncology Institute stock in a transaction on Friday, December 16th. The shares were purchased at an average cost of $0.95 per share, with a total value of $69,999.80. Following the completion of the purchase, the chief operating officer now owns 175,325 shares in the company, valued at $166,558.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Oncology Institute news, COO Matthew P. Miller acquired 73,684 shares of Oncology Institute stock in a transaction on Friday, December 16th. The shares were purchased at an average cost of $0.95 per share, with a total value of $69,999.80. Following the completion of the purchase, the chief operating officer now owns 175,325 shares in the company, valued at $166,558.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mohit Kaushal sold 15,994 shares of the stock in a transaction 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 completion of the sale, the director now owns 25,534 shares in the company, valued at $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 valued at $3,000,612. 10.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Oncology Institute
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOI. Triatomic Management LP grew its position in shares of Oncology Institute by 7.0% in the 1st quarter. Triatomic Management LP now owns 428,100 shares of the company's stock valued at $3,052,000 after acquiring an additional 28,100 shares during the period. Vanguard Group Inc. grew its position in shares of Oncology Institute by 89.5% in the 1st quarter. Vanguard Group Inc. now owns 838,321 shares of the company's stock valued at $5,977,000 after acquiring an additional 395,977 shares during the period. Northern Trust Corp bought a new position in shares of Oncology Institute in the 1st quarter valued at about $129,000. State Street Corp bought a new position in shares of Oncology Institute in the 1st quarter valued at about $222,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Oncology Institute in the 1st quarter valued at about $130,000. 70.45% of the stock is currently owned by institutional investors and hedge funds.Oncology Institute Trading Up 3.8 %
TOI stock traded up $0.06 during midday trading on Friday, hitting $1.65. The company's stock had a trading volume of 188,177 shares, compared to its average volume of 267,226. The company has a quick ratio of 4.07, a current ratio of 4.37 and a debt-to-equity ratio of 0.62. Oncology Institute has a twelve month low of $0.86 and a twelve month high of $10.74. The company's fifty day moving average price is $2.18 and its 200 day moving average price is $4.48.
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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