FIGS (NYSE:FIGS) Shares Up 9.6% – Here’s Why

FIGS, Inc. (NYSE:FIGS)’s stock price was up 9.6% during mid-day trading on Monday . The company traded as high as $4.69 and last traded at $4.75. Approximately 1,739,424 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 2,090,587 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

FIGS has been the topic of a number of recent research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target on shares of FIGS in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.35.

FIGS Stock Performance

The company’s 50 day simple moving average is $5.27 and its 200-day simple moving average is $5.64. The firm has a market capitalization of $787.90 million, a PE ratio of 80.80, a PEG ratio of 31.62 and a beta of 1.26.

Insider Activity

In related news, insider Heather L. Hasson sold 26,855 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This trade represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

Institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in FIGS in the third quarter valued at $104,000. Intech Investment Management LLC purchased a new position in shares of FIGS in the 3rd quarter worth about $197,000. Charles Schwab Investment Management Inc. increased its position in shares of FIGS by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,066,727 shares of the company’s stock valued at $7,296,000 after purchasing an additional 59,672 shares during the last quarter. FMR LLC raised its holdings in shares of FIGS by 0.3% during the 3rd quarter. FMR LLC now owns 1,155,092 shares of the company’s stock valued at $7,901,000 after buying an additional 3,000 shares in the last quarter. Finally, Applied Fundamental Research LLC lifted its position in FIGS by 6.1% in the 3rd quarter. Applied Fundamental Research LLC now owns 2,648,281 shares of the company’s stock worth $18,114,000 after buying an additional 152,900 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.