The Goldman Sachs Group Cuts FIGS (NYSE:FIGS) Price Target to $4.50

FIGS (NYSE:FIGS) had its price objective reduced by The Goldman Sachs Group from $5.00 to $4.50 in a research note published on Tuesday morning,Benzinga reports. They currently have a sell rating on the stock.

FIGS has been the topic of several other reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price objective on shares of FIGS in a research note on Wednesday, November 13th. Barclays reduced their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, FIGS presently has an average rating of “Hold” and a consensus price target of $5.35.

FIGS Price Performance

NYSE FIGS opened at $6.00 on Tuesday. The firm has a market capitalization of $1.02 billion, a P/E ratio of 100.00, a P/E/G ratio of 244.32 and a beta of 1.33. FIGS has a 1-year low of $4.30 and a 1-year high of $7.98. The business’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $5.69.

Hedge Funds Weigh In On FIGS

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its holdings in FIGS by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,141 shares of the company’s stock worth $316,000 after purchasing an additional 4,038 shares during the last quarter. SG Americas Securities LLC purchased a new stake in FIGS during the 2nd quarter worth approximately $158,000. Diversified Trust Co purchased a new stake in FIGS during the 2nd quarter worth approximately $213,000. OFI Invest Asset Management purchased a new stake in FIGS during the 2nd quarter worth approximately $380,000. Finally, Hedges Asset Management LLC increased its holdings in shares of FIGS by 75.7% in the 2nd quarter. Hedges Asset Management LLC now owns 126,500 shares of the company’s stock valued at $674,000 after acquiring an additional 54,500 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.