FIGS (NYSE:FIGS) Shares Down 8.8% - Here's What Happened

FIGS, Inc. (NYSE:FIGS - Get Free Report) shares traded down 8.8% during mid-day trading on Friday . The stock traded as low as $5.04 and last traded at $5.09. 378,186 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,801,332 shares. The stock had previously closed at $5.58.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of FIGS from $5.00 to $4.50 and set a "sell" rating on the stock in a report on Tuesday, December 10th. Barclays dropped their target price on shares of FIGS from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 12th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 price objective on shares of FIGS in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.35.

FIGS Stock Performance

The stock's fifty day moving average is $5.67 and its two-hundred day moving average is $5.77. The firm has a market cap of $817.64 million, a price-to-earnings ratio of 80.25, a PEG ratio of 31.62 and a beta of 1.22.

Insider Buying and Selling at FIGS

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.96, for a total transaction of $160,055.80. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.30% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On FIGS

Several hedge funds have recently made changes to their positions in FIGS. Creative Planning grew its stake in shares of FIGS by 17.7% in the 3rd quarter. Creative Planning now owns 12,697 shares of the company's stock worth $87,000 after purchasing an additional 1,911 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of FIGS by 787.0% in the 3rd quarter. International Assets Investment Management LLC now owns 13,926 shares of the company's stock worth $950,000 after purchasing an additional 12,356 shares during the last quarter. Malaga Cove Capital LLC grew its stake in shares of FIGS by 18.4% in the 3rd quarter. Malaga Cove Capital LLC now owns 214,122 shares of the company's stock worth $1,465,000 after purchasing an additional 33,278 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of FIGS in the 3rd quarter worth approximately $104,000. Finally, Aigen Investment Management LP grew its stake in shares of FIGS by 40.3% in the 3rd quarter. Aigen Investment Management LP now owns 22,840 shares of the company's stock worth $156,000 after purchasing an additional 6,562 shares during the last quarter. Institutional investors and hedge funds 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.