The Goldman Sachs Group Lowers FIGS (NYSE:FIGS) Price Target to $4.50

FIGS (NYSE:FIGS - Free Report) had its price objective cut by The Goldman Sachs Group from $5.00 to $4.50 in a report released on Tuesday morning,Benzinga reports. They currently have a sell rating on the stock.

Several other equities research analysts have also commented on the stock. Telsey Advisory Group reissued a "market perform" rating and set a $7.00 price objective on shares of FIGS in a research note on Wednesday, November 13th. Barclays reduced their price objective on 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.35.

FIGS Stock Performance

Shares of NYSE FIGS traded down $0.10 during midday trading on Tuesday, hitting $5.13. 1,600,474 shares of the company traded hands, compared to its average volume of 3,493,239. FIGS has a 12-month low of $4.30 and a 12-month high of $7.98. The firm has a market cap of $871.13 million, a P/E ratio of 87.08, a P/E/G ratio of 244.32 and a beta of 1.33. The stock has a 50-day moving average price of $5.80 and a 200 day moving average price of $5.68.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY grew its position in FIGS by 12.5% during the third quarter. Bamco Inc. NY now owns 30,030,078 shares of the company's stock valued at $205,406,000 after buying an additional 3,342,755 shares during the period. Geode Capital Management LLC grew its position in shares of FIGS by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company's stock valued at $20,369,000 after acquiring an additional 109,979 shares during the period. State Street Corp increased its stake in shares of FIGS by 1.4% in the 3rd quarter. State Street Corp now owns 2,743,494 shares of the company's stock worth $18,765,000 after purchasing an additional 38,787 shares in the last quarter. Applied Fundamental Research LLC raised its holdings 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 purchasing an additional 152,900 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in FIGS by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 2,307,304 shares of the company's stock valued at $12,298,000 after purchasing an additional 322,358 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other 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.