Morgan Stanley Cuts FIGS (NYSE:FIGS) Price Target to $4.25

FIGS (NYSE:FIGS) had its target price lowered by Morgan Stanley from $4.75 to $4.25 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price target on shares of FIGS in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.30.

FIGS Stock Down 3.1 %

Shares of FIGS stock opened at $3.96 on Thursday. FIGS has a 12 month low of $3.57 and a 12 month high of $7.06. The firm has a market cap of $642.77 million, a PE ratio of 65.92, a price-to-earnings-growth ratio of 31.62 and a beta of 1.18. The stock has a 50 day moving average of $4.66 and a 200-day moving average of $5.40.

Institutional Investors Weigh In On FIGS

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of FIGS by 585.8% in the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock worth $30,000 after buying an additional 5,583 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in FIGS in the fourth quarter valued at $43,000. Blue Trust Inc. raised its stake in FIGS by 395.3% during the fourth quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock worth $47,000 after acquiring an additional 6,099 shares in the last quarter. Stifel Financial Corp bought a new position in shares of FIGS during the fourth quarter valued at $70,000. Finally, Cibc World Markets Corp acquired a new stake in shares of FIGS in the 4th quarter valued at $75,000. 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.