FIGS (NYSE:FIGS) Trading Down 8.8% – Here’s Why

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

Analysts Set New Price Targets

Several research firms have recently weighed in on FIGS. Telsey Advisory Group reissued a “market perform” rating and set a $7.00 price objective on shares of FIGS in a research note on Friday. Barclays decreased their price target on FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group cut their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a report on Tuesday, December 10th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.35.

FIGS Trading Down 18.1 %

The firm has a market capitalization of $776.03 million, a PE ratio of 76.17, a PEG ratio of 31.62 and a beta of 1.22. The firm’s fifty day moving average price is $5.72 and its 200 day moving average price is $5.77.

Insider Transactions at FIGS

In other FIGS 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 value of $160,055.80. Following the completion of the sale, the insider now directly owns 354,221 shares of the company’s stock, 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in FIGS by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company’s stock worth $75,445,000 after buying an additional 3,352,846 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of FIGS by 12.5% during the 3rd quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock valued at $205,406,000 after acquiring an additional 3,342,755 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of FIGS in the 4th quarter valued at approximately $12,152,000. Bank of New York Mellon Corp raised its stake in shares of FIGS by 83.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,315,163 shares of the company’s stock valued at $14,331,000 after acquiring an additional 1,052,384 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in FIGS by 23.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company’s stock worth $26,931,000 after purchasing an additional 827,149 shares during the last quarter. Institutional investors and hedge funds 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.