FIGS (NYSE:FIGS) Shares Down 4.9% – What’s Next?

FIGS, Inc. (NYSE:FIGS)’s stock price was down 4.9% on Wednesday . The stock traded as low as $14.86 and last traded at $15.3150. Approximately 577,401 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 3,488,513 shares. The stock had previously closed at $16.10.

Wall Street Analyst Weigh In

FIGS has been the subject of a number of research analyst reports. Barclays upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Wolfe Research raised shares of FIGS to a “buy” rating in a research note on Wednesday, December 10th. Morgan Stanley increased their price target on FIGS from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Finally, KeyCorp upgraded FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, FIGS has a consensus rating of “Moderate Buy” and an average price target of $12.58.

FIGS Stock Down 2.3%

The stock has a market cap of $2.41 billion, a P/E ratio of 77.22 and a beta of 1.22. The company’s 50 day moving average price is $12.22 and its 200-day moving average price is $9.94.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $165.33 million. FIGS had a return on equity of 8.41% and a net margin of 5.43%.FIGS’s quarterly revenue was up 33.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. Equities research analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Catherine Eva Spear sold 49,734 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the transaction, the chief executive officer owned 1,857,299 shares in the company, valued at approximately $21,136,062.62. The trade was a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah Oughtred sold 22,690 shares of the company’s stock in a transaction on 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 directly owned 821,500 shares in the company, valued at approximately $8,675,040. This represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 662,140 shares of company stock valued at $10,542,161 over the last ninety days. 29.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On FIGS

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in FIGS by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after acquiring an additional 3,276 shares during the last quarter. Woodline Partners LP bought a new position in shares of FIGS in the 1st quarter worth about $3,199,000. Fox Run Management L.L.C. acquired a new position in shares of FIGS in the 2nd quarter valued at about $100,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of FIGS in the 2nd quarter valued at about $92,000. Finally, ProShare Advisors LLC boosted its position in shares of FIGS by 28.6% during the 2nd quarter. ProShare Advisors LLC now owns 772,968 shares of the company’s stock valued at $4,360,000 after purchasing an additional 172,027 shares in the last quarter. Institutional investors 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.