Panbela Therapeutics Inc (NASDAQ:PBLA) is moving higher a bit in the pre-market session on Wednesday. The stock has lost 11% over the past week.
Major Trigger:
Panbela Set to Join Russell Microcap® Index
Key Highlights:
- PBLA is set to join the Russell Microcap® Index at the conclusion of the 2021 Russell indexes annual reconstitution effective after the US market opens on June 28, according to a preliminary list of additions posted June 4.
- Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
- 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.
Key Quote:
“We look forward to the opportunity to communicate our strategy and accomplishments with a broader investor audience that inclusion in the Microcap Index will provide,” said Jennifer K. Simpson, PhD, MSN, CRNP, President & Chief Executive Officer. “We are moving our research programs forward and believe the progress we are making will provide a compelling investment opportunity.”
Market Reaction
As of 7:23, PBLA stock jumped 0.25% to $3.92. So far the stock has traded 800 shares traded hands.
