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AtaiBeckley to enter Russell 2000 after Russell index reconstitution
The move takes effect June 29 and coincides with the company saying it finished dosing the final patient in its Phase 2 VLS-01 Elumina trial.
AtaiBeckley N.V. said it will be added to the Russell indices after the latest reconstitution, with shares set to become part of the small-cap focused Russell 2000 Index and the broader Russell 3000 Index effective June 29, according to Yahoo Finance.
The company framed the change as meaningful because more than $12 trillion in assets are benchmarked to Russell indexes, with Russell 2000 tracking about 2,000 small-cap stocks and Russell 3000 covering roughly 3,000 stocks across small-, mid-, and large-cap categories.
AtaiBeckley also tied the index inclusion to clinical progress, saying it has concluded dosing for the final patient in its Phase 2 Elumina trial of VLS-01 for treatment-resistant depression.
Separately, Yahoo Finance said Canaccord Genuity raised its price target on AtaiBeckley from $15 to $17 and reiterated a Buy rating after the Phase 2 update, noting an adjusted upside potential of over 227%.
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