FIGS, Inc. (NYSE:FIGS) Given Consensus Rating of “Reduce” by Analysts

Shares of FIGS, Inc. (NYSE:FIGS) have been assigned an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.35.

A number of brokerages recently issued reports on FIGS. Barclays dropped their price target 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 price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a report on Tuesday, December 10th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research note on Friday, February 28th.

Insiders Place Their Bets

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the 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 transaction, the insider now directly owns 354,221 shares in the company, valued at approximately $2,111,157.16. This trade represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

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

FIGS Price Performance

Shares of FIGS stock opened at $4.83 on Friday. The stock has a market cap of $819.33 million, a price-to-earnings ratio of 80.42, a PEG ratio of 31.62 and a beta of 1.26. The firm’s 50-day moving average is $5.61 and its 200 day moving average is $5.75. FIGS has a 1 year low of $4.30 and a 1 year high of $7.06.

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.