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Richard Barasch, a director at Oncology Institute, Inc. (NASDAQ:TOI), has made a significant investment in the company by acquiring common stock worth approximately $1.42 million. This acquisition, reported in a recent SEC filing, involved the purchase of 1,358,448 shares at a price of $1.0417 per share. The stock has shown remarkable momentum, gaining over 250% in the past six months, according to InvestingPro data.
The transaction was part of a private placement agreement, which included the purchase of units consisting of common stock and warrants. The shares were purchased through RAB Ventures (DFP) LLC, an entity controlled by Barasch. Following this transaction, Barasch’s total direct and indirect ownership stands at 1,775,641 shares of Oncology Institute’s common stock. The company maintains strong liquidity with a current ratio of 2.15, indicating healthy short-term financial stability.
The private placement agreement also involved the acquisition of common warrants, allowing for the purchase of additional shares in the future. These moves highlight Barasch’s continued confidence in the company’s prospects. Analysts share this optimism, setting a unanimous $2.00 price target. For deeper insights into TOI’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, The Oncology Institute reported its Q4 2024 earnings, revealing a net loss despite strategic growth efforts. The company missed analysts’ expectations with earnings per share (EPS) of -$0.14, falling short of the forecasted -$0.08, and reported revenue of $100.3 million, below the expected $109.15 million. Full-year revenue reached $393 million, marking a 21.3% increase from 2023, although gross profit for the year declined by 9.4% to $54 million. Despite these results, the company highlighted positive cash flow from operations in Q4 and strategic expansion into Florida, which buoyed investor sentiment. The Oncology Institute projects 2025 revenue between $460 million and $480 million, aiming for profitability by Q4 2025. The company also announced a $20 million principal paydown of outstanding debt and a $16.5 million private placement of common equity to strengthen its financial position. Analysts from B. Riley showed interest in the company’s growth plans, particularly in new markets like Florida, and the potential impact of changes in the reimbursement landscape.
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