FIGS (NYSE:FIGS) Trading Down 3.3% – Here’s Why

FIGS, Inc. (NYSE:FIGS) shares dropped 3.3% during mid-day trading on Friday . The stock traded as low as $5.86 and last traded at $5.92. Approximately 224,619 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,905,568 shares. The stock had previously closed at $6.12.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FIGS. The Goldman Sachs Group lowered their price target 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. Barclays lowered 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target on shares of FIGS in a research note on Wednesday, November 13th. Two investment 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. According to data from MarketBeat.com, FIGS has a consensus rating of “Hold” and an average target price of $5.35.

FIGS Stock Performance

The company has a market capitalization of $1.01 billion, a PE ratio of 98.75, a price-to-earnings-growth ratio of 35.88 and a beta of 1.24. The stock’s fifty day simple moving average is $5.54 and its 200-day simple moving average is $5.84.

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 26,855 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.96, for a total transaction of $160,055.80. Following the transaction, the insider now directly owns 354,221 shares in the company, valued at $2,111,157.16. This represents a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Creative Planning lifted its holdings in shares of FIGS by 17.7% during the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after acquiring an additional 1,911 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of FIGS by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock worth $270,000 after acquiring an additional 2,879 shares during the period. FMR LLC increased its position in FIGS by 0.3% during the 3rd quarter. FMR LLC now owns 1,155,092 shares of the company’s stock worth $7,901,000 after purchasing an additional 3,000 shares in the last quarter. Aigen Investment Management LP lifted its position in FIGS by 40.3% during the third quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock valued at $156,000 after buying an additional 6,562 shares in the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new position in FIGS during the fourth quarter valued at approximately $43,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.