The Oncology Institute (TOI)
Manages community cancer care with patient services, specialty pharmacy, and clinical trials.
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Runs a U.S. community oncology platform that combines clinic care, specialty pharmacy, and clinical-trial access. Revenue depends on patient services, pharmacy fills, and value-based payor contracts shaped by healthcare regulation and claims-processing systems.
Manages community-based oncology practices and related networks across a five-state U.S. footprint. Business lines include patient services, specialty pharmacy, and clinical trials & other, with care delivered through affiliated physician clinics, contracted clinics, and independent providers.
Patient services cover physician care, infusion, radiation, outpatient transfusions, and around-the-clock support under fee-for-service and value-based arrangements. Specialty pharmacy fills oncology-related oral, IV, and injectable medications, while clinical-trial activity moved to a Helios service and profit-sharing structure.
Execution depends on payor contracts, pharmacy benefit managers, physician recruitment, and claims workflows. State corporate-practice-of-medicine rules shape the management-services structure with physician-owned professional corporations.
Company facts
Target rangeAs of Aug 27, 2026
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 9, 2026 | BTIG | Reiterate | Buy | $8 | $9 |
| Jul 6, 2026 | Lake Street | Initiate | Buy | $10 | |
| Jun 17, 2026 | Needham | Reiterate | Buy | $5 | $7 |
| Jun 8, 2026 | BTIG | Reiterate | Buy | $8 | |
| Nov 25, 2025 | Needham | Target | $5 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $41.1M · Total debt $24.6M · Total assets $178.2M · Shareholders' equity −$24.9M
- Revenue
- $161.3M
- Operating income
- −$4.6M
- Net income
- −$9.8M
No dividends on record.
| Institutions120 holders · as of Mar 31, 2026 · largest filers plus last quarter's tail | ≥ 38.02% | 38.75M shares | |
| Insiders17 holders · as of Jul 29, 2026 | 26.45% | 26.96M shares | |
| Otherremainder | ≤ 35.53% | 36.21M shares |
101.92M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Institutional filings for STLN (100% of the company) are not on file here, so the institutional figure is a floor.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Jorey ChernettInsider10 percent owner | 10.45% | 10.65M | Form 4filed Jul 22, 2026 ↗ |
Growth I. L.P. M331Insiderdirector | 5.34% | 5.44M | Form 4filed Nov 20, 2025 ↗ |
Richard A. BaraschInsiderdirector | 4.49% | 4.57M | Form 4filed Jul 28, 2025 ↗ |
BlackRock, Inc.Institution | 4.33% | 4.42M | 13Fas of Mar 31, 2026 |
Vanguard Capital Management LLCInstitution | 3.41% | 3.48M | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
- Reported at 4.94% on May 15, 2026, under the 5% line, so no further filing is required.
13F — a manager's quarterly holdings · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 21, 2026 | Jorey Chernett | 10 percent owner | +18,000 | $5.27 |
| Jul 14, 2026 | Yale Podnos | officer: Chief Medical Officer | −23,452 | $6.41 |
| Jul 10, 2026 | Jorey Chernett | 10 percent owner | +15,000 | $5.85 |
| Jun 23, 2026 | Jorey Chernett | 10 percent owner | +18,000 | $5.02 |
| Jun 8, 2026 | Yale Podnos | officer: Chief Medical Officer | −23,451 | $5.38 |
- McKesson
Community oncology scale through U.S. Oncology Network
- Cencora
OneOncology adds community oncology practice-management scale
- Evolent
Specialty benefit management for oncology payor risk
- Cardinal Health
Navista and ION bring community oncology practice support
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| The Oncology Institute | $5.13 | −19.72% | $512.9M | — | — | 0.9 | +34.6% |
| McKesson | $924.84 | −0.03% | $108.27B | 24.7 | 20.0 | 0.3 | +7.7% |
| Cencora | $337.41 | +0.32% | $65.44B | 25.0 | 17.3 | 0.2 | +5.1% |
| Evolent | $4.23 | +0.12% | $475.8M | — | 12.6 | 0.2 | +46.9% |
| Cardinal Health | $247.00 | +0.63% | $57.50B | 34.0 | 19.6 | 0.2 | +5.8% |
| Median | 25.0 | 18.5 | 0.2 | +6.8% |