FIGS (NYSE:FIGS) Shares Gap Down – Should You Sell?

FIGS, Inc. (NYSE:FIGS)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $4.84, but opened at $4.71. FIGS shares last traded at $4.69, with a volume of 159,056 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 target price on shares of FIGS in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.35.

FIGS Price Performance

The company has a market capitalization of $787.90 million, a PE ratio of 80.80, a P/E/G ratio of 31.62 and a beta of 1.26. The business’s 50 day simple moving average is $5.25 and its 200 day simple moving average is $5.64.

Insider Activity

In related 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 sale, the insider now directly owns 354,221 shares in the company, valued at approximately $2,111,157.16. The trade was a 7.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FIGS. Sugar Maple Asset Management LLC acquired a new position in shares of FIGS in the 4th quarter worth approximately $43,000. Blue Trust Inc. raised its position in FIGS by 395.3% in the fourth quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock valued at $47,000 after purchasing an additional 6,099 shares during the period. Stifel Financial Corp purchased a new stake in FIGS in the fourth quarter valued at approximately $70,000. Cibc World Markets Corp acquired a new position in FIGS during the fourth quarter worth $75,000. Finally, Quantinno Capital Management LP purchased a new position in shares of FIGS during the fourth quarter worth $82,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About FIGS

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.