FIGS (NYSE:FIGS) Stock Price Down 3.5% – Here’s Why

FIGS, Inc. (NYSE:FIGS) traded down 3.5% during trading on Tuesday . The stock traded as low as $5.71 and last traded at $5.71. 321,793 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 3,488,592 shares. The stock had previously closed at $5.92.

Wall Street Analyst Weigh In

FIGS has been the subject of several research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price objective on shares of FIGS in a research report on Wednesday, November 13th. Barclays reduced their price target on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group dropped their price objective 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FIGS presently has an average rating of “Hold” and a consensus target price of $5.35.

FIGS Stock Performance

The firm has a market capitalization of $950.94 million, a price-to-earnings ratio of 93.33, a price-to-earnings-growth ratio of 299.52 and a beta of 1.33. The firm’s 50-day moving average price is $5.66 and its two-hundred day moving average price is $5.72.

Institutional Investors Weigh In On FIGS

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of FIGS by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,307,304 shares of the company’s stock valued at $12,298,000 after purchasing an additional 322,358 shares during the period. Verus Capital Partners LLC bought a new stake in shares of FIGS in the second quarter worth $79,000. Versor Investments LP boosted its holdings in FIGS by 304.8% during the second quarter. Versor Investments LP now owns 59,500 shares of the company’s stock worth $317,000 after purchasing an additional 44,800 shares during the last quarter. Rhumbline Advisers grew its position in FIGS by 17.0% in the second quarter. Rhumbline Advisers now owns 207,382 shares of the company’s stock valued at $1,105,000 after purchasing an additional 30,077 shares in the last quarter. Finally, Malaga Cove Capital LLC increased its stake in FIGS by 28.3% in the 2nd quarter. Malaga Cove Capital LLC now owns 180,844 shares of the company’s stock valued at $964,000 after buying an additional 39,928 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.