Shares of Re/Max Holdings, uniQure, and Trinseo experienced significant drops as they were removed from the S&P SmallCap 600. This news caused the stocks to reach their lowest points in the past 52 weeks.
Re/Max, a real-estate brokerage franchiser, saw its shares decrease by 12% to $14.51, hitting a daily low of $13.62. The stock’s highest point in the past year was on February 2, reaching $24.28.
uniQure, a gene therapy company, also faced a 12% drop in its shares, which fell to $7.69 with a low of $7.40 on Tuesday. However, it’s important to note that uniQure had reached a 52-week high of $28.26 on November 29. On the same day, the U.S. Food and Drug Administration cleared uniQure’s investigational new drug application for AMT-260. This gene therapy candidate is aimed at addressing refractory mesial temporal lobe epilepsy.
Shares of Trinseo, a company specializing in plastics and latex binders, experienced a significant decline of 19% to $8.73. This drop resulted in a new 52-week low of $8.04. Trinseo’s highest point in the past year was on February 3, reaching $30.54.
S&P Dow Jones Indices is set to implement various index changes on September 18 as part of its quarterly rebalance. These modifications aim to ensure each index reflects its market capitalization range accurately.