Telsey Advisory Group Reaffirms “Market Perform” Rating for FIGS (NYSE:FIGS)

FIGS (NYSE:FIGS)‘s stock had its “market perform” rating restated by research analysts at Telsey Advisory Group in a note issued to investors on Friday,Benzinga reports. They presently have a $9.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential downside of 19.89% from the company’s current price.

Several other research analysts also recently commented on FIGS. The Goldman Sachs Group raised their price objective on FIGS from $5.50 to $7.50 and gave the stock a “sell” rating in a research note on Friday, January 30th. 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 research note on Wednesday, December 10th. Morgan Stanley lifted their price target 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. Barclays increased their price objective on shares of FIGS from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Zacks Research upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.10.

FIGS Price Performance

NYSE:FIGS opened at $11.24 on Friday. FIGS has a one year low of $3.57 and a one year high of $12.50. The business has a fifty day moving average price of $11.36 and a 200-day moving average price of $9.17. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 112.35 and a beta of 1.29.

Insider Activity at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 49,734 shares of the 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 owned 1,857,299 shares of the company’s stock, valued at $21,136,062.62. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sarah Oughtred sold 22,690 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $10.56, for a total value of $239,606.40. Following the transaction, the chief financial officer owned 821,500 shares of the company’s stock, valued at approximately $8,675,040. The trade was a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 105,813 shares of company stock valued at $1,168,051. Corporate insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY grew its holdings in FIGS by 2.2% during the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after buying an additional 1,302,823 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of FIGS by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after purchasing an additional 1,144,962 shares in the last quarter. Vanguard Group Inc. increased its position in FIGS by 4.6% in the third quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after purchasing an additional 425,189 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in FIGS by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock valued at $29,549,000 after purchasing an additional 70,660 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in FIGS by 66.2% during the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after purchasing an additional 1,712,610 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

FIGS Company Profile

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.