Verus Capital Partners LLC Cuts Stock Holdings in FIGS, Inc. (NYSE:FIGS)

Verus Capital Partners LLC lessened its holdings in FIGS, Inc. (NYSE:FIGS) by 17.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,264 shares of the company’s stock after selling 2,632 shares during the quarter. Verus Capital Partners LLC’s holdings in FIGS were worth $84,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in FIGS by 23.6% during the first quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock worth $85,000 after buying an additional 3,247 shares during the period. ProShare Advisors LLC lifted its stake in shares of FIGS by 26.6% during the 1st quarter. ProShare Advisors LLC now owns 766,465 shares of the company’s stock worth $3,817,000 after purchasing an additional 161,249 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of FIGS by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 12,597,318 shares of the company’s stock worth $62,735,000 after purchasing an additional 206,673 shares during the last quarter. Quadrature Capital Ltd bought a new stake in FIGS during the first quarter valued at about $129,000. Finally, Price T Rowe Associates Inc. MD grew its stake in FIGS by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,141 shares of the company’s stock valued at $316,000 after purchasing an additional 4,038 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays lowered their price target on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday. The Goldman Sachs Group raised their target price 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target on shares of FIGS in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.40.

FIGS Stock Up 7.6 %

Shares of FIGS stock opened at $5.07 on Thursday. The firm has a market capitalization of $866.26 million, a P/E ratio of 84.50, a PEG ratio of 226.08 and a beta of 1.44. FIGS, Inc. has a 52 week low of $4.30 and a 52 week high of $7.98. The company has a 50 day moving average price of $6.09 and a 200 day moving average price of $5.73.

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.