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

On March 26th, CEO Daniel Virnich 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, resulting in a total expenditure of $23,545.60. Following this transaction, Virnich's total ownership in the company increased to 724,363 shares, with a total value estimated at around $753,337.52. This move indicates a 3.23% increase in his equity position within the company, a signal of his confidence in The Oncology Institute's future. The acquisition details were filed with the Securities and Exchange Commission (SEC) and are publicly accessible through the official SEC portal.

In related market activity, shares of TOI saw an uptick of $0.03 during Friday's trading session, reaching a price of $1.14. A total of 502,477 shares changed hands, against an average trading volume of 699,326 shares. The 50-day moving average for TOI stands at $0.85, while its 200-day moving average is $0.47. Over the past year, The Oncology Institute's stock has experienced a low of $0.13 and a high of $1.78. The company currently has a debt-to-equity ratio of 5.91, a quick ratio of 2.27, and a current ratio of 2.49. The market capitalization of The Oncology Institute is approximately $86.14 million, and it has a negative price-to-earnings ratio of -1.46 with a beta of 0.41.

Financial Performance Overview

The Oncology Institute recently reported its earnings results on March 24th. The company disclosed an earnings per share (EPS) loss of ($0.14), which was lower than the analysts' expectations of a loss of ($0.08) per share. Revenue for the quarter totaled $100.27 million, falling short of the projected $109.15 million estimated by market analysts. The business reported a negative return on equity of 186.83% alongside a negative net margin of 17.63%, indicating challenges in profitability.

Institutional Investor Activity

Oncology Institute has seen varied activity from institutional investors recently. Renaissance Technologies LLC increased its stake in the company by 7.1% in the last quarter, acquiring an additional 12,000 shares for a total of 182,000 shares valued at $56,000. HighTower Advisors LLC also raised its holdings significantly by 190.8% during the third quarter, now owning 81,362 shares worth $27,000 after adding 53,382 shares. Notably, Jane Street Group LLC boosted its position substantially by 613.6% in the fourth quarter, acquiring 127,659 shares valued at $39,000. Other players in the market include Virtu Financial LLC, which made a new investment worth about $41,000, and Tiff Advisory Services LLC, which increased its holdings by 13.2% to own 2,979,141 shares valued at $921,000. Currently, institutional investors and hedge funds collectively own 36.86% of The Oncology Institute's stock.

About The Oncology Institute

The Oncology Institute, Inc. specializes in providing a variety of medical oncology services across the United States. The firm operates through three key segments: Dispensary, Patient Services, and Clinical Trials & Other. Their offerings include physician services, in-house infusion, and dispensary, alongside clinical trials, radiation services, outpatient blood product transfusion services, and comprehensive patient support programs, which also encompass educational seminars and counseling services.

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