Enzo Biochem Added to Russell 2000 and Russell 3000 Indexes
NEW YORK--(BUSINESS WIRE)--Enzo Biochem, Inc. (NYSE:ENZ) announced today the company was added to the Russell 2000® and Russell 3000® Indexes following the reconstitution of Russell Investment Group's family of US indexes after the market closed on June 27, 2014.
Russell determines membership for its equity 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 both active and passive investment strategies. As of March 31, 2014, Russell had more than $259 billion in assets under management and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. Approximately $5.2 trillion in assets are benchmarked to the Russell Indexes.
About Russell 2000 Index
Measures the performance of the small-cap segment of the U.S. equity market. The Russell 2000 Index is a subset of the Russell 3000 Index and represents approximately 10% of the total market capitalization of the Russell 3000. It includes approximately 2000 small-cap companies based on a combination of their market cap and current index membership. The Russell 2000 is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market and is a subset of the Russell 3000® representing approximately 10 percent of the total market capitalization of that index. Membership in the Russell 2000® Index includes automatic inclusion in the appropriate growth and style indexes.
About Russell 3000 Index
Measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market. The Russell 3000 Index is constructed to provide a comprehensive, unbiased and stable barometer of the broad market and is completely reconstituted annually to ensure new and growing equities are reflected. The Russell 1000, which measures the performance of the large-cap segment of the U.S. equity universe, and Russell 2000 are subsets of the Russell 3000.
About Enzo Biochem
Enzo Biochem is a pioneer in molecular diagnostics, leading the convergence of clinical laboratories, life sciences and therapeutics through the development of unique diagnostic platform technologies that provide numerous advantages over previous standards. A global company, Enzo Biochem utilizes cross-functional teams to develop and deploy products systems and services that meet the ever-changing and rapidly growing needs of health care both today and into the future. Underpinning Enzo Biochem's products and technologies is a broad and deep intellectual property portfolio, with patent coverage across a number of key enabling technologies.
Except for historical information, the matters discussed in this news release may be considered forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended Such statements include declarations regarding the intent, belief or current expectations of the Company and its management, including those related to cash flow, gross margins, revenues, and expenses are dependent on a number of factors outside of the control of the company including, inter alia, the markets for the Company's products and services, costs of goods and services, other expenses, government regulations, litigations, and general business conditions. See Risk Factors in the Company's Form 10-K for the fiscal year ended July 31, 2013. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this press release.