FIGS (NYSE:FIGS) Shares Down 6.1% – Should You Sell?

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

Analysts Set New Price Targets

FIGS has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of FIGS from $4.25 to $3.75 and set a “sell” rating for the company in a research report on Tuesday, April 22nd. Telsey Advisory Group reduced their price target on FIGS from $7.00 to $5.00 and set a “market perform” rating for the company in a report on Monday, May 5th. Finally, Morgan Stanley dropped their price objective on FIGS from $4.75 to $4.25 and set an “equal weight” rating on the stock in a report on Thursday, April 17th.

FIGS Price Performance

The company has a fifty day moving average of $4.36 and a two-hundred day moving average of $5.18. The stock has a market capitalization of $802.85 million, a P/E ratio of 82.33, a price-to-earnings-growth ratio of 31.62 and a beta of 1.20.

Institutional Investors Weigh In On FIGS

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of FIGS by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company’s stock worth $75,445,000 after purchasing an additional 3,352,846 shares during the period. Raymond James Financial Inc. bought a new stake in shares of FIGS during the 4th quarter valued at about $12,152,000. Security Benefit Life Insurance Co. KS acquired a new stake in FIGS during the first quarter worth about $6,962,000. Bank of New York Mellon Corp lifted its holdings in FIGS by 83.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,315,163 shares of the company’s stock worth $14,331,000 after acquiring an additional 1,052,384 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in FIGS in the first quarter valued at approximately $4,640,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.