FIGS (NYSE:FIGS) Trading Down 6.1% – Here’s What Happened

FIGS, Inc. (NYSE:FIGS) shares fell 6.1% during trading on Friday . The stock traded as low as $4.64 and last traded at $4.74. 264,808 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,872,499 shares. The stock had previously closed at $5.05.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FIGS. Telsey Advisory Group cut their target price on FIGS from $7.00 to $5.00 and set a “market perform” rating on the stock in a research note on Monday, May 5th. Morgan Stanley reduced their price objective on shares of FIGS from $4.75 to $4.25 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group lowered their target price on shares of FIGS from $4.25 to $3.75 and set a “sell” rating on the stock in a research note on Tuesday, April 22nd.

FIGS Trading Down 2.2 %

The firm has a 50-day moving average price of $4.36 and a 200-day moving average price of $5.18. The company has a market capitalization of $802.85 million, a price-to-earnings ratio of 82.33, a PEG ratio of 31.62 and a beta of 1.20.

Institutional Investors Weigh In On FIGS

Hedge funds and other institutional investors have recently bought and sold shares of the business. MetLife Investment Management LLC grew its stake in shares of FIGS by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 78,952 shares of the company’s stock worth $489,000 after purchasing an additional 2,355 shares during the last quarter. Malaga Cove Capital LLC boosted its holdings in FIGS by 1.2% during the fourth quarter. Malaga Cove Capital LLC now owns 216,669 shares of the company’s stock worth $1,341,000 after buying an additional 2,547 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FIGS by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,943 shares of the company’s stock worth $458,000 after buying an additional 2,807 shares during the last quarter. Invesco Ltd. increased its holdings in shares of FIGS by 2.7% in the fourth quarter. Invesco Ltd. now owns 145,734 shares of the company’s stock valued at $902,000 after buying an additional 3,879 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock valued at $30,000 after acquiring an additional 5,583 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.