FIGS (NYSE:FIGS) Reaches New 52-Week Low – Here’s What Happened

FIGS, Inc. (NYSE:FIGS) reached a new 52-week low during trading on Thursday . The company traded as low as $4.05 and last traded at $4.09, with a volume of 1221113 shares traded. The stock had previously closed at $4.65.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FIGS. The Goldman Sachs Group lowered their price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a report on Tuesday, December 10th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 target price on shares of FIGS in a research report on Friday, February 28th.

FIGS Trading Up 0.4 %

The stock has a market capitalization of $641.14 million, a P/E ratio of 65.75, a P/E/G ratio of 31.62 and a beta of 1.18. The stock’s 50 day simple moving average is $5.03 and its 200 day simple moving average is $5.59.

Insider Activity

In other news, insider Heather L. Hasson sold 26,855 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.96, for a total value of $160,055.80. Following the completion of the sale, the insider now directly owns 354,221 shares in the company, valued at approximately $2,111,157.16. The trade was a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

A number of hedge funds have recently added to or reduced their stakes in the business. Bamco Inc. NY lifted its position in shares of FIGS by 2.7% in the 4th quarter. Bamco Inc. NY now owns 30,837,759 shares of the company’s stock worth $190,886,000 after buying an additional 807,681 shares during the last quarter. Vanguard Group Inc. raised its stake in FIGS by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 12,799,729 shares of the company’s stock worth $79,230,000 after acquiring an additional 153,836 shares during the period. Ameriprise Financial Inc. lifted its holdings in FIGS by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company’s stock worth $75,445,000 after acquiring an additional 3,352,846 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in FIGS by 1.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,681,768 shares of the company’s stock worth $66,121,000 after acquiring an additional 110,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in FIGS by 23.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company’s stock valued at $26,931,000 after acquiring an additional 827,149 shares during the period. Institutional investors and hedge funds 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.