Shares of Emergent Biosolutions were trading beneath a 52-week low in Monday’s after-hours market, following news the company would be removed from the S&P SmallCap 600 index.
At 6:04 p.m. ET, the company’s shares were trading 5% lower, at $4.51 a share. In Monday’s regular session, the stock touched a 52-week low of $4.74 per share, before closing with a 4.2% loss, at $4.76 a share.
S&P Dow Jones Indices said Advance Auto Parts would move from the S&P 500 to the SmallCap 600, to make way for Kenvue. Emergent, which is “no longer representative of the small-cap market space,” would be dropped from the index before the start of trading on Aug. 25, S&P Dow Jones Indices said.