ONCOLOGY INSTITUTE INC (TOI)
Health Care · Community oncology practices and value-based cancer care management · NASDAQ
The Oncology Institute is a value-based oncology care provider that manages outpatient cancer treatment through a national network of clinics and integrated specialty pharmacies.
What ONCOLOGY INSTITUTE INC does
The Oncology Institute is a community-based oncology care provider that operates 65 company-owned clinics and manages 81 independent clinics across 17 markets in five states, treating patients for medical oncology, hematology, infusion therapy, and radiation therapy. The company generates revenue through three business lines: fee-for-service patient care, value-based risk-sharing contracts with payors and managed care organizations, and specialty pharmacy services. TOI manages approximately 2 million patients under value-based agreements and generates predictable, recurring revenue by assuming responsibility for oncology care management at the population level. The company employs 116 providers and contracts with a network of 198 independent providers to deliver integrated oncology care with a focus on reducing costs through clinical pathways, drug formulary management, and best-practice clinical protocols.
Themes: value-based care, oncology management, specialty pharmacy, clinical trials, managed care partnerships
Fundamentals
- Price$6.20 as of 2026-08-11 close
- Market cap$632M as of 2026-08-11
- 1-year return+46.2% 2025-08-11 close $4.24 → 2026-08-11 close $6.20
- P/En/a negative earnings
- Net margin-8.0% as of 2026-08-24
- Gross margin+15.1% as of 2026-08-24
- ROE-482.6% as of 2026-08-24
- Debt / equity14.58 as of 2026-08-24
- Revenue growth (YoY)+35.4% as of 2026-08-24
- Revenue CAGR (3y)+25.8% SEC XBRL
- Beta0.37 as of 2026-08-24
- Last reported earnings2026-08-06 SEC EDGAR Form 8-K (Item 2.02)
How TOI compares in its sector
- net profit marginmiddle range 504 covered Health Care peers, as of 2026-08-24
- operating marginmiddle range 504 covered Health Care peers, as of 2026-08-24
- gross marginbottom 10% 384 covered Health Care peers, as of 2026-08-24
- return on equitybottom 10% 576 covered Health Care peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 402 covered Health Care peers
- free cash flow (absolute dollars, latest fiscal year)middle range 493 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How ONCOLOGY INSTITUTE INC looks technically
Trend
5
| Distance from the 200-day | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
|---|---|---|
| 50-day moving average | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $3.90 | $3.90 |
| Since the 50/200 cross | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| Trend strength (14-day ADX) | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
Range
12
| 52-week high | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
|---|---|---|
| From the 52-week high | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| Above the 52-week low | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| Below the 52-week high | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| Since a 20-day breakout | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| Since a 55-day breakout | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| All-time high | its highest closing price on record is $12.66 (set on 2021-12-27) | $12.66 |
| Given back of the 52-week move | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| From the all-time high | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| Nearest price level | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
| All-time low | its lowest closing price on record is $0.1253 (set on 2024-11-21) | $0.1253 |
| Above the all-time low | not current — this company's price series (ends 2026-08-11) is 8 trading sessions behind the rest of the catalog | n/a |
Based on daily closing prices as of 2026-08-11. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingStrong Buy (1.20 mean, 1=Strong Buy…5=Strong Sell) — 5 analysts
- Mean price target$8.40 range $7.00 – $10.00; median $8.00
Analyst estimates, as of 2026-08-17. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Key risks (from latest filing)
["High reliance on value-based care contracts and managed care partnerships for revenue stability.","Significant operating losses and history of recurring net losses.","Exposure to regulatory changes in government-sponsored healthcare reimbursement models."]
What changed in the latest 10-Q
AI-assisted comparison of TOI's 10-Q filed 2026-05-07 against the prior one filed 2025-11-13.
Management's Discussion & Analysis (MD&A)
- Added:
- Newer filing (2026-05-07) specifies company operates '65 community-based oncology practices' as of March 31, 2026, with '116 oncologists and advanced practice providers'
- Newer filing adds detail about managing '275 providers in Florida under the Florida Oncology Network brand and 11 network providers in California'
- Newer filing states company manages 'approximately 2.0 million patients under value-based agreements as of March 31, 2026'
- Newer filing emphasizes company's mission: 'to heal and empower cancer patients through compassion, innovation, and state-of-the-art medical care'
- Newer filing includes expanded section on operational services including 'radiation therapy, educational seminars, support groups, counseling, and 24/7 patient assistance'
- Newer filing explains independent network providers' access to 'value-based care contracts without the need to incur costs required to build clinical or operational infrastructure'
- Newer filing references 'Annual Report on Form 10-K for the year ended December 31, 2025, which was filed on March 12, 2026'
- Removed:
- Older filing (2025-11-13) describes TOI as 'originally founded in 2007' and as 'a leading, national platform delivering integrated direct care and cost management to patients and payors'
- Older filing states company 'operates combined community clinics and infusion suites' with details on treatments including 'chemotherapy, immunotherapy, oncolytics, and radiation oncology'
- Older filing mentions 'coordinated case management, drug formulary management, and fully-delegated networks of care providers'
- Older filing notes TOI 'contributes through a third party significantly to clinical research in the fields of oncology, hematology, and supportive medications and devices'
- Older filing specifies '120 oncologists and mid-level professionals across 66 clinic locations' in 'five states: California, Florida, Arizona, Oregon and Nevada'
- Older filing mentions contractual relationships serving 'Medicare, including Medicare Advantage, Medi-Cal, and commercial patients'
- Older filing uses terminology 'dispensary revenue' instead of 'specialty pharmacy revenue'
- Older filing references 'Annual Report on Form 10-K for the year ended December 31, 2024, which was filed on March 26, 2025'
- Older filing includes detailed FFS revenue explanation discussing 'referrals from other physicians, such as primary care physicians' and trust-building with physician networks
- Reworded:
- Newer filing describes company as 'a leading value-based oncology company that manages community-based oncology practices' versus older filing's 'leading, national platform delivering integrated direct care and cost management'
- Newer filing's Overview section reorganized to focus on market presence ('17 markets and five states') and operational structure (TOI PCs) versus older filing's emphasis on service capabilities and clinical research
- Newer filing changes revenue component from 'dispensary revenue' (older) to 'specialty pharmacy revenue' (newer)
- Newer filing adds 'in-house specialty pharmacy' to operational services list while older filing discusses 'specialty pharmacy' separately with mail-order detail
- Newer filing restructures Overview to emphasize value-based model and patient care accessibility in community settings versus older filing's emphasis on treatment modalities and research contributions
- Notes:
- Text truncation in older filing appears to cut off mid-sentence in FFS revenue section, limiting complete comparison of that discussion
- Different filing dates (2026-05-07 vs 2025-11-13) and different quarter-end dates (March 31, 2026 vs September 30, 2025) mean changes may reflect both operational updates and temporal differences
- Newer filing shows 65 clinic locations with 116 providers versus older filing's 66 locations with 120 providers - represents operational change or reclassification between quarters
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
5 open-market purchases and 3 open-market sales by insiders in the last 90 days.
- Last 30 days1 buy ($78480) · 0 sells — 1 buying insider
- Last 90 days5 buys ($408450) · 3 sells ($276434) — 1 buying, 1 selling insiders
- Last 180 days9 buys ($749745) · 5 sells ($611567) — 1 buying, 2 selling insiders
Activity heuristic: net buying (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-14. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about TOI's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding TOI as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 9,184,328
- Reported value $28,195,888
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 5 increased, 0 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
TOI had 7,154,907 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
TOI had 7.02% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 4.83 days to cover at the same settlement.
- Reported short interest (shares) 7,154,907
- Short interest (% of shares outstanding) 7.02%
- Prior settlement (shares) 7,273,147
- Reported change -1.63%
- Days to cover (reported) 4.83
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- US Oncology Network (McKesson)
- OneOncology
- Cancer Treatment Centers of America (City of Hope)
- Integrated Oncology Network
- Regional Health Systems
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Frequently asked questions
What does ONCOLOGY INSTITUTE INC (TOI) do?
The Oncology Institute is a community-based oncology care provider that operates 65 company-owned clinics and manages 81 independent clinics across 17 markets in five states, treating patients for medical oncology, hematology, infusion therapy, and radiation therapy. The company generates revenue through three business lines: fee-for-service patient care, value-based risk-sharing contracts with payors and managed care organizations, and specialty pharmacy services.
What sector is ONCOLOGY INSTITUTE INC (TOI) in?
ONCOLOGY INSTITUTE INC (TOI) is classified in the Health Care sector. Its industry is Community oncology practices and value-based cancer care management. It trades on NASDAQ.
Who are ONCOLOGY INSTITUTE INC's (TOI) competitors?
Notable peers of ONCOLOGY INSTITUTE INC (TOI) include US Oncology Network (McKesson), OneOncology, Cancer Treatment Centers of America (City of Hope), Integrated Oncology Network and Regional Health Systems. This peer set is informational only — not financial advice.
Where does stocks-llm's data on TOI come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-11.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.