FIGS (NYSE:FIGS) Shares Up 6% – Here’s Why

FIGS, Inc. (NYSE:FIGS) shares rose 6% during mid-day trading on Thursday . The stock traded as high as $5.96 and last traded at $5.96. Approximately 520,219 shares were traded during trading, a decline of 85% from the average daily volume of 3,480,539 shares. The stock had previously closed at $5.62.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group cut their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, FIGS currently has a consensus rating of “Hold” and a consensus target price of $5.35.

FIGS Stock Performance

The business’s fifty day simple moving average is $5.60 and its 200 day simple moving average is $5.73. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 100.17, a price-to-earnings-growth ratio of 299.52 and a beta of 1.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of FIGS by 165.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 598,028 shares of the company’s stock valued at $4,091,000 after purchasing an additional 372,693 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of FIGS by 3.4% in the third quarter. Franklin Resources Inc. now owns 1,120,304 shares of the company’s stock worth $7,461,000 after buying an additional 36,697 shares during the last quarter. Geode Capital Management LLC raised its holdings in FIGS by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock valued at $20,369,000 after acquiring an additional 109,979 shares in the last quarter. Barclays PLC raised its holdings in FIGS by 152.5% in the third quarter. Barclays PLC now owns 286,974 shares of the company’s stock valued at $1,963,000 after acquiring an additional 173,316 shares in the last quarter. Finally, State Street Corp boosted its stake in FIGS by 1.4% during the 3rd quarter. State Street Corp now owns 2,743,494 shares of the company’s stock valued at $18,765,000 after acquiring an additional 38,787 shares during the last quarter. Hedge funds and other 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.