Renaissance Technologies LLC Lowers Stock Holdings in FIGS, Inc. (NYSE:FIGS)

Renaissance Technologies LLC cut its holdings in shares of FIGS, Inc. (NYSE:FIGS) by 46.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,108,228 shares of the company’s stock after selling 942,973 shares during the quarter. Renaissance Technologies LLC’s holdings in FIGS were worth $6,860,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of FIGS during the 4th quarter worth about $12,152,000. Geode Capital Management LLC increased its position in FIGS by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock worth $20,369,000 after purchasing an additional 109,979 shares during the last quarter. Barclays PLC raised its stake in FIGS by 152.5% during the third quarter. Barclays PLC now owns 286,974 shares of the company’s stock worth $1,963,000 after purchasing an additional 173,316 shares during the period. OFI Invest Asset Management acquired a new position in shares of FIGS in the 4th quarter valued at $749,000. Finally, Blue Trust Inc. grew its stake in shares of FIGS by 395.3% during the 4th quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock valued at $47,000 after buying an additional 6,099 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FIGS has been the topic of a number of research analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 target price on shares of FIGS in a report on Friday, February 28th. Morgan Stanley reduced their price objective on FIGS from $4.75 to $4.25 and set an “equal weight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.30.

FIGS Price Performance

Shares of FIGS opened at $3.96 on Friday. FIGS, Inc. has a 12 month low of $3.57 and a 12 month high of $7.06. The stock has a market cap of $642.77 million, a PE ratio of 65.92, a P/E/G ratio of 31.62 and a beta of 1.18. The stock’s 50-day moving average is $4.66 and its two-hundred day moving average is $5.41.

FIGS 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.