FIGS (NYSE:FIGS) Trading Down 3.3% – Here’s Why

Shares of FIGS, Inc. (NYSE:FIGS) fell 3.3% during trading on Friday . The company traded as low as $5.86 and last traded at $5.92. 224,619 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,905,568 shares. The stock had previously closed at $6.12.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FIGS. Barclays dropped their target price on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. The Goldman Sachs Group dropped 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. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $7.00 target price on shares of FIGS in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.35.

FIGS Stock Performance

The firm has a market cap of $1.01 billion, a PE ratio of 98.75, a P/E/G ratio of 35.88 and a beta of 1.24. The firm’s 50-day moving average price is $5.54 and its two-hundred day moving average price is $5.84.

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 26,855 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.96, for a total transaction of $160,055.80. Following the completion of the sale, the insider now 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 can be accessed through this link. Insiders own 22.30% of the company’s stock.

Institutional Trading of FIGS

Several institutional investors and hedge funds have recently bought and sold shares of FIGS. Sugar Maple Asset Management LLC purchased a new stake in FIGS in the 4th quarter valued at $43,000. Creative Planning raised its position in FIGS by 17.7% in the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after purchasing an additional 1,911 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in FIGS in the 3rd quarter valued at $104,000. Seven Eight Capital LP purchased a new stake in FIGS in the 2nd quarter valued at $144,000. Finally, Aigen Investment Management LP raised its position in FIGS by 40.3% in the 3rd quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock valued at $156,000 after purchasing an additional 6,562 shares during the last quarter. Hedge funds and other 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.