FIGS (NYSE:FIGS) Downgraded by Wall Street Zen to Buy

FIGS (NYSE:FIGS) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other research firms have also recently commented on FIGS. Zacks Research upgraded FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. The Goldman Sachs Group upped their price objective on FIGS from $5.50 to $7.50 and gave the company a “sell” rating in a research note on Friday, January 30th. Morgan Stanley lifted their target price on FIGS from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. BTIG Research boosted their target price on FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, Wolfe Research upgraded 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 given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.10.

FIGS Price Performance

Shares of FIGS opened at $10.26 on Friday. The company has a market cap of $1.69 billion, a PE ratio of 102.55 and a beta of 1.29. The firm has a 50-day moving average of $11.45 and a 200-day moving average of $9.00. FIGS has a one year low of $3.57 and a one year high of $12.50.

Insider Buying and Selling at FIGS

In other FIGS news, insider Heather L. Hasson sold 22,874 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $10.56, for a total value of $241,549.44. Following the transaction, the insider directly owned 1,251,967 shares of the company’s stock, valued at $13,220,771.52. This represents a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sarah Oughtred sold 22,690 shares of the stock in a transaction on Thursday, February 5th. The stock was 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 in the company, valued at $8,675,040. The trade was a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 105,813 shares of company stock valued at $1,168,051 in the last ninety days. 29.44% of the stock is currently owned by corporate insiders.

Institutional Trading of FIGS

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Elevated Capital Advisors LLC acquired a new position in FIGS during the fourth quarter valued at approximately $45,000. Assetmark Inc. acquired a new stake in shares of FIGS in the 3rd quarter valued at $35,000. Quarry LP increased its stake in shares of FIGS by 1,876.3% in the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock valued at $52,000 after purchasing an additional 7,449 shares during the last quarter. Capstone Financial Advisors Inc. acquired a new position in shares of FIGS during the 2nd quarter worth $56,000. Finally, May Hill Capital LLC bought a new stake in shares of FIGS during the 4th quarter worth $117,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.