Benzinga | Jun 16, 2021 07:30AM EDT

Ocugen Inc. Set to Join Russell 3000 Index

Ocugen, Inc. (NASDAQ:OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced that it is set to join the broad-market Russell 3000(r) Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, 2021, according to a preliminary list of additions posted June 4, 2021.

The annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, 2021, ranking them by total market capitalization. Membership in the US all-cap Russell 3000(r) Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000(r) Index or small-cap Russell 2000(r) Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

"As part of the reconstitution process to ensure that new and growing equities are included, we are pleased to be added to the Russell 3000(r) index which measures the performance of the largest US companies representing approximately 98% of the investable US equity market," said Sanjay Subramanian, CFO and Head of Corporate Development of Ocugen.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000(r) Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.