FIGS (NYSE:FIGS) Stock Price Down 3.5% – What’s Next?

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

Analysts Set New Price Targets

FIGS has been the subject of several research analyst reports. 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. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price objective on shares of FIGS in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group reduced their target price on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, FIGS presently has a consensus rating of “Hold” and an average target price of $5.35.

FIGS Trading Down 5.1 %

The stock’s fifty day moving average price is $5.62 and its two-hundred day moving average price is $5.72. The stock has a market capitalization of $954.33 million, a P/E ratio of 93.67, a price-to-earnings-growth ratio of 299.52 and a beta of 1.33.

Institutional Investors Weigh In On FIGS

Large investors have recently modified their holdings of the stock. Bamco Inc. NY grew its holdings 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 purchasing an additional 3,342,755 shares during the period. Squarepoint Ops LLC lifted its holdings in FIGS by 318.1% in the 2nd quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock worth $8,081,000 after purchasing an additional 1,153,481 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in FIGS in the 2nd quarter worth approximately $3,856,000. Millennium Management LLC grew its holdings in FIGS by 296.4% during the 2nd quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock valued at $3,323,000 after buying an additional 466,252 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of FIGS by 175.4% during the second quarter. Algert Global LLC now owns 638,306 shares of the company’s stock valued at $3,402,000 after buying an additional 406,556 shares during the last quarter. 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.