Harvard Bioscience Set to Join Russell 2000 and 3000 Indexes

HOLLISTON, Mass., June 22, 2023 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) (the “Company”) today announced that it is set to join the Russell 2000 and Russell 3000 Indexes, according to preliminary membership information posted to the FTSE Russell website. The addition is expected to become effective at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the U.S. market opens on June 26, 2023.

Jim Green, Harvard Bioscience Chairman and CEO said, “We are pleased that Harvard Bioscience is being added to the Russell 2000 and 3000 Indexes. This addition complements our role as a trusted partner of the world’s leading academic research institutions, contract research organizations, and pharmaceutical and bio-tech companies in the discovery, production, and safety and regulatory compliance of tomorrow’s life-saving therapies.”

Green continued, “In addition to supporting the needs of our customers and the broader healthcare community, we remain focused on our fiscal priorities of driving sustainable, profitable growth, improved operating discipline, and reducing our debt. We believe our inclusion in the indexes will improve visibility and trading liquidity, exposing us to new institutional investors.”

The Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of April 28, ranking them by total market capitalization, including both the Russell 3000 and Russell Microcap Indexes.

Membership in the US all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 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.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 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 indexes and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Harvard Bioscience
Harvard Bioscience, Inc. is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental advances in life science applications, including research, pharmaceutical and therapy discovery, bio-production and preclinical testing for pharmaceutical and therapy development. Our customers range from renowned academic institutions and government laboratories to the world’s leading pharmaceutical, biotechnology and contract research organizations. With operations in North America, Europe, and China, we sell through a combination of direct and distribution channels to customers around the world.