FIGS (NYSE:FIGS) Reaches New 12-Month Low – Here’s What Happened

FIGS, Inc. (NYSE:FIGS)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $4.05 and last traded at $4.09, with a volume of 1221113 shares. The stock had previously closed at $4.65.

Analysts Set New Price Targets

Several brokerages have issued reports on FIGS. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 target price on shares of FIGS in a research report on Friday, February 28th. The Goldman Sachs Group cut 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.

FIGS Trading Down 15.4 %

The stock has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $5.61. The stock has a market cap of $639.52 million, a price-to-earnings ratio of 65.58, a PEG ratio of 31.62 and a beta of 1.26.

Insider Transactions at FIGS

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,111,157.16. This trade represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of FIGS by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock valued at $20,369,000 after purchasing an additional 109,979 shares during the period. Barclays PLC boosted its position in FIGS by 152.5% in the third quarter. Barclays PLC now owns 286,974 shares of the company’s stock valued at $1,963,000 after buying an additional 173,316 shares during the last quarter. Raymond James Financial Inc. acquired a new position in FIGS in the 4th quarter worth approximately $12,152,000. OFI Invest Asset Management acquired a new stake in FIGS during the 4th quarter valued at approximately $749,000. Finally, Blue Trust Inc. boosted its holdings in shares of FIGS by 395.3% in the 4th quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock valued at $47,000 after acquiring an additional 6,099 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.