- Avita Medical (AVH) is included in the Russell 3000 Index as part of an annual reconstitution
- The Russell Indexes’ reconstitution process captures the 4,000 largest US stocks every year and ranks them by total market capitalisation
- Avita Medical’s CFO, Michael Holder, says the company looks forward to capitalising on this opportunity to broaden its stockholder base
- Avita Medical is up 0.56 per cent, trading at $5.37 at 10:30 am AEST
Avita Medical (AVH) has been added to the Russell 3000 Index as part of an annual reconstitution.
Avita is a regenerative medicine company with a technology platform that addresses currently unmet medical needs in burns, chronic wounds, and aesthetics indications. The company’s patented technology offers innovative treatment solutions derived from the regenerative properties of a patient’s own skin.
The annual Russell indexes reconstitution process captures the 4,000 largest US stocks every year and ranks them by total market capitalisation.
Russell indexes are used by investment managers and institutional investors for index funds and as a benchmark for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes.
Membership is primarily identified by objective, market-capitalisation rankings and style attributes, with each membership lasting one year.
Avita Medical’s membership in the Russell 3000 Index will result in automatic inclusion in the small-cap Russell 2000 Index, as well as in growth and value style indexes.
“We are excited to have been included in the Russell 3000 Index as part of the annual reconstitution,” Chief Financial Officer of Avita Medical, Michael Holder said.
“We look forward to capitalising on this opportunity to broaden our stockholder base.”
Avita Medical was up 0.56 per cent, trading at $5.37 at 10:30 am AEST.