Krystal Biotech Set to Join S&P MidCap 400; Tutor Perini and V2X to Join S&P SmallCap 600

(Low)

(Neutral)

Rhea-AI Summary

S&P Dow Jones Indices announced changes to the S&P MidCap 400 and S&P SmallCap 600 effective before trading on July 24 and July 27, 2026. On July 24, Krystal Biotech (KRYS) will move from the S&P SmallCap 600 to join the S&P MidCap 400, replacing Taylor Morrison Home (TMHC). Tutor Perini (TPC) will be added to the S&P SmallCap 600, replacing Krystal Biotech.

According to S&P Dow Jones Indices, Berkshire Hathaway (BRK.A/BRK.B) is acquiring Taylor Morrison Home, with closing expected on or about July 24, pending final conditions. On July 27, V2X (VVX) will join the S&P SmallCap 600, replacing Avanos Medical (AVNS), which is being acquired by American Industrial Partners, also pending final closing conditions.

News Market Reaction – KRYS

-0.05% 1.8x vol

4 alerts

-0.05% Session close to close

-4.4% Trough Tracked

$10.46B Market Cap

1.8x Rel. Volume

In the Jul 21 session, KRYS declined 0.05%, reflecting a mild negative market reaction. Argus tracked a trough of -4.4% from its starting point during tracking. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. Trading volume was above average at 1.8x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Historical event 1049853 produced a 7.86% 24-hour reaction, providing a company-specific benchmark f...

Analysis

Historical event 1049853 produced a 7.86% 24-hour reaction, providing a company-specific benchmark for the index change. Recent insider activity was net selling, while the July 24 effective date remains the key implementation detail.

Key Figures

MidCap effective date: July 24, 2026 SmallCap effective date: July 24, 2026 Additional effective date: July 27, 2026

3 metrics

MidCap effective date July 24, 2026 S&P MidCap 400 addition

SmallCap effective date July 24, 2026 S&P SmallCap 600 deletion

Additional effective date July 27, 2026 S&P SmallCap 600 change involving V2X and Avanos Medical

Historical Context

5 past events · Latest: May 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 18	MHRA approval	Positive	-4.8%	UK marketing authorization for VYJUVEK in dystrophic epidermolysis bullosa
May 07	Conference presentation	Neutral	+2.7%	Participation in the BofA Securities 2026 Health Care Conference
May 04	Quarterly results	Positive	+7.9%	First-quarter revenue and cash results with clinical program updates
Apr 30	Scientific conferences	Neutral	+0.9%	Planned presentations covering gene therapy and immunotherapy programs
Apr 21	Earnings scheduling	Neutral	-1.4%	Announcement of first-quarter financial results reporting date

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

KRYS had mixed historical reactions, including a negative reaction to a regulatory approval and a positive reaction to quarterly results.

Key Terms

index constituent, gics sector

2 terms

index constituent technical

"S&P SmallCap 600 constituent Krystal Biotech Inc."

An index constituent is a single stock or security that is included in a market index, such as those tracking a country's stock market or a specific industry. It matters to investors because the price and weighting of each constituent determine how the index moves; think of an index as a recipe where each constituent is an ingredient—changing the ingredients or their quantities changes the final flavor and how funds that track the recipe perform.

gics sector technical

"Company Name Ticker GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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07/20/2026 - 05:42 PM

NEW YORK, July 20, 2026 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, S&P SmallCap 600:

S&P SmallCap 600 constituent Krystal Biotech Inc. (NASD: KRYS) will replace Taylor Morrison Home Corp. (NYSE: TMHC) in the S&P MidCap 400, and Tutor Perini Corp. (NYSE: TPC) will replace Krystal Biotech in the S&P SmallCap 600 effective prior to the opening of trading on Friday, July 24. S&P 500 & 100 constituent Berkshire Hathaway Inc. (NYSE: BRK.A/BRK.B) is acquiring Taylor Morrison Home in a deal expected to close on or about that date, pending final closing conditions.
V2X Inc. (NYSE: VVX) will replace Avanos Medical Inc. (NYSE: AVNS) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, July 27. American Industrial Partners is acquiring Avanos Medical in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name		Action	Company Name	Ticker	GICS Sector
July 24, 2026	S&P MidCap 400	Addition		Krystal Biotech	KRYS	Health Care
July 24, 2026	S&P MidCap 400	Deletion		Taylor Morrison Home	TMHC	Consumer Discretionary
July 24, 2026	S&P SmallCap 600	Addition		Tutor Perini Corp	TPC	Industrials
July 24, 2026	S&P SmallCap 600	Deletion		Krystal Biotech	KRYS	Health Care
July 27, 2026	S&P SmallCap 600	Addition		V2X	VVX	Industrials
July 27, 2026	S&P SmallCap 600	Deletion		Avanos Medical	AVNS	Health Care

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/krystal-biotech-set-to-join-sp-midcap-400-tutor-perini-and-v2x-to-join-sp-smallcap-600-302830022.html

SOURCE S&P Dow Jones Indices

FAQ

What index change is planned for Krystal Biotech (KRYS) on July 24, 2026?

Krystal Biotech will move from the S&P SmallCap 600 to the S&P MidCap 400 on July 24, 2026. According to S&P Dow Jones Indices, KRYS will replace Taylor Morrison Home in the MidCap 400 and be deleted from the SmallCap 600 simultaneously.

Why is Taylor Morrison Home (TMHC) being removed from the S&P MidCap 400?

Taylor Morrison Home will be removed from the S&P MidCap 400 because Berkshire Hathaway is acquiring the company. According to S&P Dow Jones Indices, the deal is expected to close on or about July 24, 2026, pending final closing conditions, triggering TMHC’s deletion.

When will Tutor Perini (TPC) and V2X (VVX) join the S&P SmallCap 600?

Tutor Perini will join the S&P SmallCap 600 on July 24, 2026, and V2X will join on July 27, 2026. According to S&P Dow Jones Indices, Tutor Perini replaces Krystal Biotech, while V2X replaces Avanos Medical following its pending acquisition.

What happens to Avanos Medical (AVNS) in the S&P SmallCap 600 after its acquisition?

Avanos Medical will be deleted from the S&P SmallCap 600 on July 27, 2026. According to S&P Dow Jones Indices, American Industrial Partners is acquiring Avanos Medical, and V2X will be added to the index as its replacement, pending final closing conditions.

How are Berkshire Hathaway (BRK) and American Industrial Partners involved in these S&P index changes?

Berkshire Hathaway is acquiring Taylor Morrison Home, and American Industrial Partners is acquiring Avanos Medical. According to S&P Dow Jones Indices, these pending acquisitions prompt TMHC’s removal from the S&P MidCap 400 and AVNS’s removal from the S&P SmallCap 600, with new companies added.

Which GICS sectors are affected by the July 2026 S&P MidCap 400 and SmallCap 600 changes?

The changes affect Health Care, Consumer Discretionary, and Industrials sectors. According to S&P Dow Jones Indices, Krystal Biotech and Avanos Medical are Health Care, Taylor Morrison Home is Consumer Discretionary, and Tutor Perini and V2X are Industrials within their respective S&P indices.