A Mysterious Stock Has Rallied Over 950% This Year. Here's 1 Key Reason Why Investors Are Turning Bullish

Check out The Oncology Institute (TOI +24.43%). Over 2025 to date (as of Nov. 20), it has skyrocketed a whopping $950%. Better still, over the past 12 months, it’s up an incredible 1,700%.

Image source: Getty Images.

Let’s take a closer look at this healthcare business. As you might have suspected from its name, it’s a cancer care provider, offering doctors’ services, infusions, radiation, pharmacy services, and more. America’s healthcare system has been moving toward value-based arrangements (paying healthcare providers for good outcomes) instead of fee-for-services (where providers get paid when services are used). Similarly, The Oncology Institute has struck deals in which it’s rewarded by serving patients well in a cost-efficient manner.

It recently was treating 1.9 million patients across five states (including Florida and Oregon). That limited coverage suggests plenty of room to grow, provided the company performs well.

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NASDAQ: TOI

Oncology Institute

Today’s Change

(24.43%) $0.64

Current Price

$3.26

Key Data Points

Market Cap

$258M

Day’s Range

$2.93 - $3.38

52wk Range

$0.63 - $4.88

Volume

69K

Avg Vol

1.7M

Gross Margin

13.29%

In the third quarter, The Oncology Institute posted revenue of $137 million, up nearly 37% year over year, and gross profit up nearly 32%. Its bottom line was a net loss of $16.5 million, a bit wider than the year before. The growth here was faster than the previous quarter’s.

CEO Daniel Virnich added:

During the quarter, we made meaningful progress in leveraging AI [artificial intelligence] to drive efficiencies in our operations and improve the patient experience. These were just some of the factors that allowed us to increase our full-year guidance and reaffirm our positive outlook for Q4 adjusted EBITDA [earnings before interest, taxes, depreciation, and amortization]. As a leader in oncology value-based care, it is important for us to not only raise the quality of care but also lower that cost of care. We believe we are well-positioned to achieve this goal, while simultaneously driving durable and sustainable growth.

So, will the company’s torrid growth continue? It might – in part because the stock still doesn’t seem wildly overvalued, with a recent price-to-sales ratio of just 0.6. But keep in mind that it’s not running a profit at this point, and it’s a riskier proposition than other great growth stocks.