Short Interest in FIGS, Inc. (NYSE:FIGS) Declines By 13.4%

FIGS, Inc. (NYSE:FIGS) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 15,720,000 shares, a decline of 13.4% from the December 15th total of 18,150,000 shares. Approximately 12.3% of the company’s stock are short sold. Based on an average trading volume of 2,780,000 shares, the short-interest ratio is currently 5.7 days.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays dropped their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price objective on shares of FIGS in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group dropped their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, FIGS currently has an average rating of “Hold” and an average target price of $5.35.

FIGS Stock Performance

Shares of NYSE FIGS traded down $0.20 during trading on Friday, reaching $5.93. The stock had a trading volume of 1,775,834 shares, compared to its average volume of 2,126,489. FIGS has a one year low of $4.30 and a one year high of $7.05. The stock has a market cap of $1.01 billion, a PE ratio of 98.75, a P/E/G ratio of 35.88 and a beta of 1.24. The firm’s 50 day moving average price is $5.54 and its two-hundred day moving average price is $5.84.

Insider Buying and Selling

In related news, insider Heather L. Hasson sold 26,855 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.96, for a total transaction of $160,055.80. Following the transaction, the insider now directly owns 354,221 shares of the company’s stock, valued at approximately $2,111,157.16. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 22.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FIGS

A number of institutional investors have recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in shares of FIGS in the 4th quarter valued at approximately $43,000. JPMorgan Chase & Co. increased its holdings in shares of FIGS by 165.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 598,028 shares of the company’s stock valued at $4,091,000 after acquiring an additional 372,693 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of FIGS by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,120,304 shares of the company’s stock valued at $7,461,000 after acquiring an additional 36,697 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of FIGS by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock valued at $20,369,000 after acquiring an additional 109,979 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of FIGS by 152.5% in the 3rd quarter. Barclays PLC now owns 286,974 shares of the company’s stock valued at $1,963,000 after acquiring an additional 173,316 shares during the last quarter. 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.