FIGS, Inc. (NYSE:FIGS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have received an average rating of “Reduce” from the six brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.40.

A number of equities analysts have recently commented on FIGS shares. Telsey Advisory Group reissued a “market perform” rating and set a $7.00 price target on shares of FIGS in a report on Wednesday, November 13th. Barclays lowered their target price on FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group raised their price target on shares of FIGS from $4.25 to $4.75 and gave the company a “sell” rating in a research note on Friday, August 9th.

FIGS Price Performance

Shares of FIGS opened at $4.71 on Friday. The firm has a 50 day simple moving average of $6.02 and a two-hundred day simple moving average of $5.71. FIGS has a one year low of $4.30 and a one year high of $7.98. The company has a market cap of $799.81 million, a P/E ratio of 78.50, a P/E/G ratio of 237.60 and a beta of 1.44.

Institutional Trading of FIGS

Several hedge funds and other institutional investors have recently made changes to their positions in FIGS. Dakota Wealth Management bought a new stake in shares of FIGS in the second quarter worth $57,000. Creative Planning grew its position in shares of FIGS by 17.7% in the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after buying an additional 1,911 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of FIGS by 787.0% in the third quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock valued at $950,000 after buying an additional 12,356 shares during the period. Verus Capital Partners LLC bought a new position in shares of FIGS during the second quarter worth about $79,000. Finally, GSA Capital Partners LLP acquired a new position in shares of FIGS in the third quarter worth approximately $104,000. 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.