FIGS (NYSE:FIGS) Shares Gap Down – Should You Sell?

FIGS, Inc. (NYSE:FIGS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.84, but opened at $4.71. FIGS shares last traded at $4.69, with a volume of 159,056 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FIGS. The Goldman Sachs Group cut their target price on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Tuesday, December 10th. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price target on shares of FIGS in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.35.

FIGS Trading Down 3.2 %

The stock has a market capitalization of $761.41 million, a PE ratio of 78.08, a price-to-earnings-growth ratio of 31.62 and a beta of 1.26. The firm has a 50-day moving average price of $5.30 and a 200-day moving average price of $5.65.

Insider Buying and Selling

In other news, insider Heather L. Hasson sold 26,855 shares of the stock in a transaction on Monday, January 6th. The stock was 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 owns 354,221 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 22.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FIGS

A number of large investors have recently made changes to their positions in FIGS. Ameriprise Financial Inc. grew its holdings in FIGS by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company’s stock valued at $75,445,000 after buying an additional 3,352,846 shares in the last quarter. Bamco Inc. NY grew its stake in FIGS by 12.5% during the third 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 in the last quarter. Raymond James Financial Inc. bought a new stake in FIGS during the 4th quarter worth approximately $12,152,000. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 1,052,384 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of FIGS by 23.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company’s stock valued at $26,931,000 after purchasing an additional 827,149 shares in the last quarter. 92.21% of the stock is 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.