Candel Therapeutics Inc (NASDAQ:CADL) has announced its inclusion in several value-oriented Russell indexes as part of the 2025 Russell US Indexes annual reconstitution.
The changes became effective with the opening of the US markets on June 30.
As of this reconstitution, Candel has been added to the Russell 2500 Value Index, the Russell Small Cap Value Index, the Russell 2000 Value Index, the Russell Microcap Value Index, and the Russell 3000E Value Index.
The company also maintained its membership in the broad-market Russell 3000 Index, which it first joined in 2024.
“Candel’s inclusion across multiple Russell Value indexes represents an important milestone that reflects the significant progress we have made in advancing our clinical programs and discovery efforts focused on harnessing the immune system to fight cancer,” Candel CEO Dr Paul Peter Tak said.
“These index inclusions will allow us to further engage with the investment community as we work to develop novel immunotherapies for patients with significant unmet medical needs.”
Russell indexes, maintained by FTSE Russell, are widely followed benchmarks used by investment managers and institutional investors for index funds and active investment strategies.
Each year, the Russell US Indexes reconstitution ranks the 4,000 largest US stocks by total market capitalization as of April 30, updating index memberships to reflect the evolving US equity landscape.
Shares of Candel Therapeutics were up nearly 18% on Wednesday after the update.