Fidelity Management & Research Co recently announced the acquisition of new stake in The Oncology Institute Inc. (NASDAQ:TOI). The institutional investor has increased its shareholding in the Healthcare company by 0.00% to 12.0 million shares with purchase of 191.0 shares. This fresh investment now brings its stake to 16.59% valued currently at $19.8 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.26 million to 1.8 million shares. And BlackRock Fund Advisors has lifted its position by 106.46% or 0.72 million shares – to 1.4 million shares.
With over 0.17 million The Oncology Institute Inc. (TOI) shares trading Monday and a closing price of $1.44 on the day, the dollar volume was approximately $0.25 million. The shares have shown a negative half year performance of -76.96% and its price on 01/23/23 lost nearly -5.88%. Currently, there are 72.18M common shares owned by the public and among those 55.60M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for TOI have a consensus price objective of $6.00. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $6.00. The average price target is 76.0% above its recent price level and an upside to the estimated low will see the stock gain 76.0% over that period. But an upside of 76.0% will see the stock hit the forecast high price target while median target price for the stock is $6.00.
Insiders at the company have transacted a total of 114 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 1,241,216 shares. Insider sales of the common stock occurred on 75 occasions, with total insider shares sold totaling 3,949,615 shares.
The top 3 mutual fund holders in The Oncology Institute Inc. are Fidelity Advisor Health Care Fund, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Fidelity Advisor Health Care Fund owns 1.47 million shares of the company’s stock, all valued at over $2.43 million. iShares Russell 2000 ETF sold 6832.0 shares to bring its total holdings to over 0.65 million shares at a value of $1.08 million. iShares Russell 2000 ETF now owns shares totaling to 0.91% of the shares outstanding.
Shares of The Oncology Institute Inc. (NASDAQ: TOI) opened at $1.56, up $0.03 from a prior closing price of $1.53. However, the script later moved the day high at 1.6100, down -5.88%. The company’s stock has a 5-day price change of -15.29% and -70.00% over the past three months. TOI shares are trading -12.73% year to date (YTD), with the 12-month market performance down to -77.00% lower. It has a 12-month low price of $0.86 and touched a high of $10.26 over the same period. TOI has an average intraday trading volume of 202.71K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.17%, -7.37%, and -71.47% respectively.
Institutional ownership of The Oncology Institute Inc. (NASDAQ: TOI) shares accounts for 74.90% of the company’s 72.18M shares outstanding. Mutual fund holders own 35.73%, while other institutional holders and individual stakeholders account for 7.72% and 24.61% respectively.
It has a market capitalization of $106.26M. The earnings-per-share (ttm) stands at -$0.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.97% over the week and 13.61% over the month.
Analysts forecast that The Oncology Institute Inc. (TOI) will achieve an EPS of -$0.18 for the current quarter, -$0.17 for the next quarter and -$0.35 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.16. Earnings per share for the fiscal year are expected to increase by 22.30%, and -12.00% over the next financial year.
Looking at the support for the TOI, a number of firms have released research notes about the stock. Guggenheim stated their Buy rating for the stock in a research note on September 14, 2022, with the firm’s price target at $7. Jefferies coverage for the The Oncology Institute Inc. (TOI) stock in a research note released on August 15, 2022 offered a Buy rating with a price target of $10.