The Freehold, New Jersey-based company said it should be added to the massive index after the markets close on June 28.
The Russell 3000 Index is a market-capitalization-weighted equity index that gives investors exposure to the entire US stock market. The index tracks the performance of the 3,000 largest US-traded stocks, which represent about 98% of all US incorporated equity securities.
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"We look forward to our inclusion in the Russell 3000 Index, which we believe reflects our continued growth and the progress we are making at Avalon," said CEO Dr David Jin. "Inclusion in the Russell 3000 Index is expected to benefit our company and shareholders by elevating our exposure within the global investment community."
Avalon is currently in the Russell Microcap Index, a capitalization-weighted index of almost 1,550 small-cap and micro-cap stocks, and will remain on that index for one year.
The company specializes in developing cell-based technologies but is also involved in the management of stem cell banks and clinical laboratories. It also develops proprietary diagnostic and therapeutic products leveraging exosome technology and markets proprietary exosome isolation systems and related products to hospitals.
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