Barclays Has Lowered Expectations for FIGS (NYSE:FIGS) Stock Price

FIGS (NYSE:FIGS) had its target price decreased by equities researchers at Barclays from $5.00 to $4.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 17.01% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price target on shares of FIGS in a report on Monday, November 4th. The Goldman Sachs Group upped their price target on FIGS from $4.25 to $4.75 and gave the company a “sell” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.40.

FIGS Price Performance

FIGS stock traded up $0.07 during midday trading on Tuesday, hitting $4.82. 791,156 shares of the stock were exchanged, compared to its average volume of 3,534,213. The company has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $5.73. The firm has a market cap of $823.55 million, a P/E ratio of 80.67, a P/E/G ratio of 63.73 and a beta of 1.44. FIGS has a 1 year low of $4.30 and a 1 year high of $7.98.

Institutional Investors Weigh In On FIGS

A number of hedge funds have recently added to or reduced their stakes in FIGS. Bamco Inc. NY grew its position in FIGS by 2.0% in the 1st quarter. Bamco Inc. NY now owns 25,731,980 shares of the company’s stock worth $128,145,000 after purchasing an additional 516,496 shares during the last quarter. Vanguard Group Inc. increased its position in FIGS by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 12,597,318 shares of the company’s stock valued at $62,735,000 after acquiring an additional 206,673 shares during the period. Bank of New York Mellon Corp raised its stake in FIGS by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,307,304 shares of the company’s stock valued at $12,298,000 after acquiring an additional 322,358 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of FIGS by 318.1% during the second quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock valued at $8,081,000 after purchasing an additional 1,153,481 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in FIGS by 9.6% in the second quarter. ProShare Advisors LLC now owns 839,785 shares of the company’s stock worth $4,476,000 after purchasing an additional 73,320 shares during the period. 92.21% of the stock is currently owned by institutional investors.

FIGS Company 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.