Dec 16, 2024 (MENAFN via COMTEX) --
(MENAFN - Baystreet) Upstream Bio, Inc. (NASDAQ: UPB) shares lost some strength Monday, as the clinical-stage company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders, announced that the Company will be added to the Russell 2000(R) index as part of the planned fourth quarter initial public offering (IPO) additions effective at the open of the U.S. equity markets on December 23, 2024.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.
The Russell 2000(R) Index measures the performance of the small-cap segment of the US equity market. The Russell 2000(R) Index is a subset of the Russell 3000(R) Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership. IPOs are added to the Russell US indexes on a quarterly basis.
UPB shares began Monday off two cents, or 0.1%, to $20.23.
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COMTEX_460940910/2604/2024-12-16T23:24:54
