Daniel Virnich Acquires 22,640 Shares of The Oncology Institute, Inc. (NASDAQ:TOI) Stock

On March 26th, 2023, Daniel Virnich, the CEO of The Oncology Institute, Inc. (NASDAQ:TOI), made a significant investment by purchasing 22,640 shares of the company. The shares were acquired at an average price of $1.04 each, amounting to a total investment of $23,545.60. Post-transaction, Mr. Virnich now holds 724,363 shares of the company, which are valued at around $753,337.52, reflecting a 3.23% increase in his ownership.

This acquisition was officially reported in a filing submitted to the Securities and Exchange Commission (SEC), ensuring transparency in his investment activity.

Recent Stock Performance

In trading on Friday, shares of TOI rose by $0.03, closing at $1.14. A total of 502,477 shares exchanged hands during the session, which is lower than the average trading volume of 699,326 shares. The stock has a 50-day moving average of $0.85 and a 200-day moving average of $0.47, indicating a positive trend. Over the past year, The Oncology Institute’s shares have fluctuated, reaching a low of $0.13 and a high of $1.78.

The company exhibits a debt-to-equity ratio of 5.91, a quick ratio of 2.27, and a current ratio of 2.49. It holds a market capitalization of $86.14 million and a price-to-earnings ratio of -1.46. Its beta stands at 0.41, showcasing its stability relative to the overall market.

Financial Results

Oncology Institute recently announced its earnings on March 24th, where it reported earnings per share (EPS) of ($0.14). This was a miss compared to analysts' expectations of ($0.08) by $0.06. The company's revenue for the quarter reached $100.27 million, falling short of predictions that expected $109.15 million. The firm recorded a negative return on equity of 186.83% and a negative net margin of 17.63%, indicating some challenges in profitability.

Institutional Trading Activity

Recent data regarding institutional investments reveals that several firms have been adjusting their positions in The Oncology Institute. Renaissance Technologies LLC increased its stake in Oncology Institute by 7.1% during the fourth quarter, now owning 182,000 shares. HighTower Advisors LLC raised its holdings by 190.8% in the third quarter, contributing to the total share count to 81,362. Another notable transaction came from Jane Street Group LLC, which increased its share count by 613.6%, now holding 127,659 shares.

Virtu Financial LLC also entered the market with a new position valued at about $41,000. Additionally, Tiff Advisory Services LLC upped its ownership by 13.2%, bringing its total to 2,979,141 shares, valued at $921,000. Together, institutional investors hold a collective 36.86% of the company's stock.

Company Overview

The Oncology Institute, Inc. specializes in providing medical oncology services across the United States. The company operates through three main segments: Dispensary, Patient Services, and Clinical Trials & Other. Its offerings include clinical trials, outpatient blood product transfusions, infusion services, physician services, patient support, educational seminars, counseling, and support groups.

Conclusion

As Daniel Virnich increases his stake in The Oncology Institute, the market watches with interest to see how the company navigates its financial challenges and capitalizes on future opportunities.

Investment, Stock, Acquisition