FIGS’s (FIGS) Market Perform Rating Reaffirmed at Telsey Advisory Group

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

A number of other research firms also recently commented on FIGS. Wall Street Zen downgraded FIGS from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Morgan Stanley upped their price objective on shares of FIGS from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. BTIG Research raised their target price on shares of FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Barclays upped their target price on FIGS from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Wolfe Research raised shares of FIGS to a “buy” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.10.

FIGS Trading Up 1.6%

Shares of FIGS traded up $0.17 during trading hours on Friday, hitting $11.28. The company had a trading volume of 125,206 shares, compared to its average volume of 2,408,344. The company has a market capitalization of $1.86 billion, a PE ratio of 113.36 and a beta of 1.29. FIGS has a one year low of $3.57 and a one year high of $12.50. The company’s fifty day moving average price is $11.37 and its two-hundred day moving average price is $9.11.

Insider Buying and Selling

In other news, CFO Sarah Oughtred sold 22,690 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $10.56, for a total transaction of $239,606.40. Following the completion of the sale, the chief financial officer owned 821,500 shares of the company’s stock, valued at $8,675,040. The trade was a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Catherine Eva Spear sold 49,734 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total transaction of $565,972.92. Following the completion of the transaction, the chief executive officer directly owned 1,857,299 shares in the company, valued at $21,136,062.62. This represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 105,813 shares of company stock valued at $1,168,051. 29.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FIGS

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

About FIGS

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.