FIGS (NYSE:FIGS) Stock Price Down 8.8% – What’s Next?

FIGS, Inc. (NYSE:FIGS) shares traded down 8.8% during trading on Friday . The stock traded as low as $5.04 and last traded at $5.09. 378,186 shares traded hands during trading, a decline of 79% from the average session volume of 1,801,332 shares. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FIGS. Telsey Advisory Group restated a “market perform” rating and issued a $7.00 target price on shares of FIGS in a report on Friday. The Goldman Sachs Group decreased their price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a report on Tuesday, December 10th. Finally, Barclays dropped their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.35.

FIGS Price Performance

The firm has a market capitalization of $776.03 million, a price-to-earnings ratio of 76.17, a price-to-earnings-growth ratio of 31.62 and a beta of 1.22. The business has a 50 day moving average of $5.74 and a 200 day moving average of $5.77.

Insider Activity

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.96, for a total value of $160,055.80. Following the transaction, the insider now directly owns 354,221 shares in the company, valued at $2,111,157.16. The trade was a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

Several institutional investors have recently bought and sold shares of the business. Creative Planning increased its stake in shares of FIGS by 17.7% in the third quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after buying an additional 1,911 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of FIGS by 787.0% in the third quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock valued at $950,000 after purchasing an additional 12,356 shares in the last quarter. Malaga Cove Capital LLC raised its position in FIGS by 18.4% in the 3rd quarter. Malaga Cove Capital LLC now owns 214,122 shares of the company’s stock worth $1,465,000 after purchasing an additional 33,278 shares during the last quarter. GSA Capital Partners LLP acquired a new position in FIGS during the 3rd quarter worth $104,000. Finally, Aigen Investment Management LP increased its position in FIGS by 40.3% in the third quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock worth $156,000 after purchasing an additional 6,562 shares during the period. Institutional investors own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.