FIGS (NYSE:FIGS) Trading 9.6% Higher – Here’s What Happened

FIGS, Inc. (NYSE:FIGS)’s share price shot up 9.6% during mid-day trading on Monday . The company traded as high as $4.69 and last traded at $4.75. 1,739,424 shares traded hands during trading, a decline of 17% from the average session volume of 2,090,587 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

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

FIGS Price Performance

The company has a market cap of $785.78 million, a PE ratio of 80.58, a P/E/G ratio of 31.62 and a beta of 1.26. The company’s fifty day moving average price is $5.32 and its 200 day moving average price is $5.66.

Insider Activity at FIGS

In other 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 transaction of $160,055.80. Following the completion of the transaction, the insider now directly owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This represents a 7.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FIGS

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in FIGS by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock worth $20,369,000 after buying an additional 109,979 shares during the last quarter. Barclays PLC increased its holdings in FIGS by 152.5% in the 3rd quarter. Barclays PLC now owns 286,974 shares of the company’s stock worth $1,963,000 after acquiring an additional 173,316 shares during the last quarter. Applied Fundamental Research LLC raised its stake in FIGS by 6.1% in the 3rd quarter. Applied Fundamental Research LLC now owns 2,648,281 shares of the company’s stock valued at $18,114,000 after acquiring an additional 152,900 shares during the period. Raymond James Financial Inc. purchased a new stake in FIGS during the fourth quarter valued at about $12,152,000. Finally, Blue Trust Inc. boosted its position in FIGS by 395.3% during the fourth quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock worth $47,000 after purchasing an additional 6,099 shares during the period. 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.