FIGS, Inc. (NYSE:FIGS) Receives $5.35 Average Price Target from Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have earned an average recommendation of “Reduce” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.35.

FIGS has been the subject of several recent analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price objective on shares of FIGS in a research note on Wednesday, November 13th. Barclays dropped their target price on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research 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 for the company in a report on Tuesday, December 10th.

Insider Buying and Selling

In related news, insider Heather L. Hasson sold 26,855 shares of the business’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 completion of the transaction, the insider now owns 354,221 shares in the company, valued at $2,111,157.16. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FIGS

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bamco Inc. NY lifted its stake in shares of 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 during the period. Squarepoint Ops LLC lifted its position in FIGS by 318.1% during the 2nd quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock valued at $8,081,000 after purchasing an additional 1,153,481 shares during the period. Millennium Management LLC boosted its stake in shares of FIGS by 296.4% in the 2nd quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock valued at $3,323,000 after purchasing an additional 466,252 shares during the last quarter. Algert Global LLC grew its position in shares of FIGS by 175.4% during the 2nd quarter. Algert Global LLC now owns 638,306 shares of the company’s stock worth $3,402,000 after buying an additional 406,556 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of FIGS by 165.4% during the third quarter. JPMorgan Chase & Co. now owns 598,028 shares of the company’s stock worth $4,091,000 after buying an additional 372,693 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Trading Up 6.1 %

FIGS stock opened at $6.13 on Friday. FIGS has a 1-year low of $4.30 and a 1-year high of $7.05. The business’s 50 day moving average is $5.54 and its 200-day moving average is $5.83. The firm has a market cap of $1.04 billion, a P/E ratio of 102.17, a P/E/G ratio of 290.40 and a beta of 1.24.

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.