Oncology Institute (NASDAQ:STLN) Stock Gets Price Target Boost from BTIG Research

Oncology Institute (NASDAQ:STLN) had its target price boosted by equities research analysts at BTIG Research from $9.00 to $10.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price target indicates a potential upside of 49.25% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Needham & Company LLC lifted their price objective on Oncology Institute from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncology Institute in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

Oncology Institute Stock Down 3.5%

NASDAQ:STLN opened at $6.70 on Friday. The company’s 50-day simple moving average is $6.49. Oncology Institute has a twelve month low of $2.32 and a twelve month high of $7.13.

Oncology Institute (NASDAQ:STLN) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $169.77 million for the quarter. On average, research analysts forecast that Oncology Institute will post -0.21 EPS for the current year.

Insider Transactions at Oncology Institute

In related news, Director Brad Hively sold 298,853 shares of Oncology Institute stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $6.51, for a total transaction of $1,945,533.03. Following the completion of the sale, the director owned 411,976 shares in the company, valued at approximately $2,681,963.76. This trade represents a 42.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett bought 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $6.54 per share, with a total value of $78,480.00. Following the purchase, the insider directly owned 10,660,858 shares in the company, valued at $69,722,011.32. The trade was a 0.11% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

A number of institutional investors have recently modified their holdings of STLN. Bank of New York Mellon Corp purchased a new position in shares of Oncology Institute during the second quarter valued at approximately $961,000. Bank of America Corp DE acquired a new stake in Oncology Institute during the second quarter worth approximately $2,129,000. State Street Corp acquired a new stake in Oncology Institute during the second quarter worth approximately $8,432,000. Arrowstreet Capital Limited Partnership grew its stake in Oncology Institute by 169.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 419,423 shares of the company’s stock worth $1,288,000 after acquiring an additional 263,699 shares during the period. Finally, Cetera Investment Advisers grew its stake in Oncology Institute by 427.8% in the 1st quarter. Cetera Investment Advisers now owns 128,195 shares of the company’s stock worth $394,000 after acquiring an additional 103,908 shares during the period. Institutional investors and hedge funds own 36.86% of the company’s stock.

About Oncology Institute

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.