FIGS (NYSE:FIGS) Stock Price Down 3.2% – Here’s What Happened

Shares of FIGS, Inc. (NYSE:FIGS) dropped 3.2% during mid-day trading on Thursday . The company traded as low as $5.95 and last traded at $5.99. Approximately 388,852 shares were traded during trading, a decline of 89% from the average daily volume of 3,472,006 shares. The stock had previously closed at $6.19.

Analysts Set New Price Targets

FIGS has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research report 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 research note on Wednesday, November 13th. Finally, Barclays decreased their price objective 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.35.

FIGS Stock Performance

The firm’s 50 day simple moving average is $5.58 and its 200 day simple moving average is $5.76. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 98.50, a PEG ratio of 299.52 and a beta of 1.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creative Planning lifted its holdings in FIGS by 17.7% during the third quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after purchasing an additional 1,911 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of FIGS by 787.0% during the 3rd quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock worth $950,000 after purchasing an additional 12,356 shares during the last quarter. GSA Capital Partners LLP purchased a new position in FIGS in the 3rd quarter valued at about $104,000. Aigen Investment Management LP boosted its holdings in FIGS by 40.3% in the 3rd quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock worth $156,000 after buying an additional 6,562 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in FIGS during the 3rd quarter worth approximately $163,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.