FIGS (NYSE:FIGS) Stock Price Down 3.5% – Here’s What Happened

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays decreased their price target on FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. The Goldman Sachs Group decreased their target price on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research note on Tuesday, December 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target on shares of FIGS in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.35.

FIGS Price Performance

The stock has a 50-day moving average price of $5.66 and a 200-day moving average price of $5.72. The company has a market capitalization of $950.94 million, a price-to-earnings ratio of 93.33, a PEG ratio of 299.52 and a beta of 1.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Verus Capital Partners LLC acquired a new position in shares of FIGS in the second quarter valued at approximately $79,000. Creative Planning increased its position in FIGS by 17.7% during the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after buying an additional 1,911 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of FIGS during the third quarter worth $104,000. Seven Eight Capital LP bought a new stake in shares of FIGS in the second quarter valued at about $144,000. Finally, Aigen Investment Management LP increased 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 worth $156,000 after acquiring an additional 6,562 shares during the period. 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.