Morgan Stanley Has Lowered Expectations for FIGS (NYSE:FIGS) Stock Price

FIGS (NYSE:FIGS - Get Free Report) had its price target dropped by Morgan Stanley from $4.75 to $4.25 in a report released on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 9.40% from the company's current price.

Separately, Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 price target on shares of FIGS in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, FIGS currently has an average rating of "Hold" and a consensus target price of $5.15.

FIGS Price Performance

NYSE:FIGS traded up $0.08 during mid-day trading on Thursday, hitting $3.89. 1,261,722 shares of the company's stock were exchanged, compared to its average volume of 2,918,817. The company has a market cap of $631.39 million, a PE ratio of 64.75, a P/E/G ratio of 31.62 and a beta of 1.18. FIGS has a one year low of $3.57 and a one year high of $7.06. The business has a fifty day moving average price of $4.64 and a 200 day moving average price of $5.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIGS. GAMMA Investing LLC increased its position in FIGS by 585.8% in the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after purchasing an additional 5,583 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of FIGS in the 4th quarter valued at about $43,000. Blue Trust Inc. increased its stake in 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 last quarter. Stifel Financial Corp purchased a new stake in FIGS during the fourth quarter valued at approximately $70,000. Finally, Cibc World Markets Corp purchased a new position in shares of FIGS in the 4th quarter worth approximately $75,000. Institutional investors own 92.21% of the company's stock.

About FIGS

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.