Balyasny Asset Management L.P. Sells 1,000,631 Shares of FIGS, Inc. (NYSE:FIGS)

Balyasny Asset Management L.P. lowered its holdings in shares of FIGS, Inc. (NYSE:FIGS) by 63.7% in the fourth quarter, HoldingsChannel reports. The firm owned 569,528 shares of the company’s stock after selling 1,000,631 shares during the period. Balyasny Asset Management L.P.’s holdings in FIGS were worth $3,525,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in FIGS during the fourth quarter worth about $43,000. Blue Trust Inc. boosted its holdings in shares of FIGS by 380.0% during the fourth quarter. Blue Trust Inc. now owns 7,407 shares of the company’s stock worth $51,000 after acquiring an additional 5,864 shares during the period. Stifel Financial Corp bought a new stake in shares of FIGS during the fourth quarter worth approximately $70,000. Cibc World Markets Corp bought a new stake in shares of FIGS during the fourth quarter worth approximately $75,000. Finally, Senvest Management LLC bought a new stake in shares of FIGS during the fourth quarter worth approximately $84,000. Institutional investors own 92.21% of the company’s stock.

FIGS Trading Down 2.2%

NYSE FIGS opened at $4.94 on Monday. FIGS, Inc. has a 1-year low of $3.57 and a 1-year high of $7.06. The company has a 50 day moving average of $4.36 and a 200-day moving average of $5.17. The company has a market cap of $802.85 million, a price-to-earnings ratio of 82.33, a PEG ratio of 31.62 and a beta of 1.20.

Wall Street Analysts Forecast Growth

FIGS has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on FIGS from $4.75 to $4.25 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Telsey Advisory Group reduced their price objective on FIGS from $7.00 to $5.00 and set a “market perform” rating for the company in a report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on FIGS from $4.25 to $3.75 and set a “sell” rating for the company in a report on Tuesday, April 22nd.

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.