FIGS, Inc. (NYSE:FIGS) Receives Consensus Recommendation of “Reduce” from Brokerages

FIGS, Inc. (NYSE:FIGS) has been given an average recommendation of “Reduce” by the six ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $5.35.

FIGS has been the topic of a number of research reports. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price target on shares of FIGS in a research report on Wednesday, November 13th. The Goldman Sachs Group reduced their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research report on Tuesday, December 10th. Finally, Barclays dropped their target price 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.

FIGS Stock Performance

FIGS stock opened at $5.13 on Wednesday. FIGS has a fifty-two week low of $4.30 and a fifty-two week high of $7.05. The stock has a market cap of $871.13 million, a P/E ratio of 85.50, a price-to-earnings-growth ratio of 32.70 and a beta of 1.22. The firm’s fifty day moving average price is $5.78 and its 200-day moving average price is $5.81.

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 26,855 shares of the firm’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 transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in FIGS by 114.3% during the 2nd quarter. AQR Capital Management LLC now owns 50,805 shares of the company’s stock valued at $271,000 after purchasing an additional 27,098 shares during the last quarter. Millennium Management LLC raised its holdings in shares of FIGS by 296.4% during the second quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock valued at $3,323,000 after acquiring an additional 466,252 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of FIGS by 6.0% during the second quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock valued at $270,000 after acquiring an additional 2,879 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in FIGS in the second quarter worth $458,000. Finally, SG Americas Securities LLC boosted its holdings in FIGS by 94.5% in the third quarter. SG Americas Securities LLC now owns 57,779 shares of the company’s stock valued at $395,000 after acquiring an additional 28,067 shares in 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.