Krystal Biotech replaces two companies in the S&P MidCap 400 index following merger-driven constituent changes.
S&P Dow Jones Indices will add Krystal Biotech (KRYS) to the S&P MidCap 400 index, replacing Taylor Morrison Home (TMHC) and Avonova (AVNS). The changes reflect recent merger activity among index constituents and will take effect before trading begins.
The S&P MidCap 400 tracks mid-sized U.S. companies with market capitalizations typically ranging between $2 billion and $10 billion. Constituent adjustments are made periodically to maintain the index’s representation of the market segment.
No immediate market reaction was specified following the announcement.