Morgan Stanley Forecasts Strong Price Appreciation for FIGS (NYSE:FIGS) Stock

FIGS (NYSE:FIGS - Get Free Report) had its price objective lifted by analysts at Morgan Stanley from $4.25 to $5.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential downside of 16.74% from the company's current price.

Several other equities research analysts have also issued reports on FIGS. The Goldman Sachs Group decreased their price target on shares of FIGS from $4.25 to $3.75 and set a "sell" rating for the company in a research note on Tuesday, April 22nd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $5.00 price objective on shares of FIGS in a research note on Tuesday, May 13th. Finally, Barclays reissued a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th.

FIGS Stock Performance

Shares of FIGS stock traded up $0.10 during trading hours on Monday, reaching $6.01. The company's stock had a trading volume of 389,183 shares, compared to its average volume of 2,573,625. FIGS has a one year low of $3.57 and a one year high of $7.06. The company has a market capitalization of $976.11 million, a P/E ratio of 600.10 and a beta of 1.32. The stock's fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $5.04.

Institutional Trading of FIGS

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company's stock worth $29,000 after acquiring an additional 5,118 shares during the period. GAMMA Investing LLC raised its position in shares of FIGS by 585.8% during the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock valued at $30,000 after buying an additional 5,583 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of FIGS during the fourth quarter valued at approximately $70,000. Cibc World Markets Corp bought a new stake in shares of FIGS during the fourth quarter valued at approximately $75,000. Finally, Quantinno Capital Management LP bought a new stake in shares of FIGS during the fourth quarter valued at approximately $82,000. 92.21% of the stock is currently owned by institutional investors.

About FIGS

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.

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