FIGS (NYSE:FIGS) Receives Market Perform Rating from Telsey Advisory Group

FIGS (NYSE:FIGS)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a report issued on Friday,Benzinga reports. They presently have a $9.00 price objective on the stock. Telsey Advisory Group’s price target suggests a potential downside of 20.24% from the stock’s current price.

A number of other research firms also recently commented on FIGS. Weiss Ratings restated a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. BTIG Research upped their target price on shares of FIGS from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Morgan Stanley increased their price objective on shares of FIGS from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Barclays boosted their target price on FIGS from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group raised their price target on FIGS from $5.50 to $7.50 and gave the stock a “sell” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.10.

FIGS Stock Performance

Shares of NYSE FIGS traded up $0.17 during midday trading on Friday, reaching $11.28. 125,206 shares of the stock were exchanged, compared to its average volume of 2,408,344. The stock has a market capitalization of $1.86 billion, a P/E ratio of 113.36 and a beta of 1.29. The company has a 50 day simple moving average of $11.37 and a 200 day simple moving average of $9.11. FIGS has a twelve month low of $3.57 and a twelve month high of $12.50.

Insider Activity

In other news, insider Heather L. Hasson sold 22,874 shares of FIGS stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $10.56, for a total transaction of $241,549.44. Following the completion of the sale, the insider directly owned 1,251,967 shares of the company’s stock, valued at approximately $13,220,771.52. The trade was a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah Oughtred sold 22,690 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $10.56, for a total value of $239,606.40. Following the completion of the sale, the chief financial officer owned 821,500 shares in the company, valued at approximately $8,675,040. This represents a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 105,813 shares of company stock worth $1,168,051. 29.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FIGS

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its stake in FIGS by 66.2% in the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after purchasing an additional 1,712,610 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of FIGS by 2.2% in the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after buying an additional 1,302,823 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of FIGS by 2,139.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock valued at $7,374,000 after buying an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of FIGS by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after buying an additional 1,144,962 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in FIGS by 940.7% during the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock worth $5,212,000 after acquiring an additional 835,300 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.