Why Atturra, Bravura, Core Lithium, and Opthea shares are racing higher today

The S&P/ASX 200 Index (ASX: XJO) has started the week strongly on Monday. In afternoon trade, the benchmark index is up 0.9% to 8,030.9 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are storming higher:

Atturra Ltd (ASX: ATA)

The Atturra share price is up 7% to 78.2 cents. Investors have been buying this technology services company’s shares after it announced an agreement to acquire Exent Holdings. Attura is paying $6 million in upfront consideration with earn-out/post-completion consideration of up to $2 million in cash. Management notes that it is a strategically aligned acquisition that helps Atturra extend its advisory and consulting capabilities outside of Canberra and Defence and expand the practice nationally. The transaction is expected to complete on or around 31 July.

Bravura Solutions Ltd (ASX: BVS)

The Bravura Solutions share price is up almost 5% to $1.12. This follows the release of a guidance update from the wealth management software solutions company. Bravura advised that it is upgrading its FY 2024 EBITDA guidance to approximately $25 million. This is up from its previous guidance range of $18 million to $22 million. Management advised that its upgraded guidance follows a successful transformation execution over the course of the year which has resulted in the stabilisation of the business and continued progress towards rightsizing the cost base.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 9% to 12 cents. Investors have been buying this lithium miner’s shares this month following a couple of positive updates. One was the release of an update on its production in FY 2024. Core Lithium advised that it exceeded its FY 2024 production guidance with production of 95,020 dry metric tonnes (dmt) of spodumene concentrate. This led to Core Lithium reporting an unaudited cash balance of $87.6 million at 30 June. Also going down well with investors was the release of the company’s exploration update last week.

Opthea Ltd (ASX: OPT)

The Opthea share price is up 8% to 40 cents. This morning, the clinical-stage biopharmaceutical company revealed that it has successfully completed the fully underwritten retail component of its entitlement offer. The retail entitlement offer raised approximately A$55.9 million, which brought the total raised to a whopping A$227.3 million at 40 cents per new share. The net proceeds will fund the company through the anticipated Phase 3 topline data readouts for COAST (Combination OPT-302 with Aflibercept Study), and ShORe (Study of OPT-302 in combination with Ranibizumab). In addition, the funds are intended to be used to progress chemistry, manufacturing, and controls activities, Biologics License Application preparations for FDA approval, and for general corporate purposes.

The post Why Atturra, Bravura, Core Lithium, and Opthea shares are racing higher today appeared first on The Motley Fool Australia.

More reading

• Guess which ASX All Ords stock just leapt 22% on improved guidance
• Top 5 investment themes exciting ASX shares investors in FY25
• Here 3 ASX lithium shares to watch for FY25
• Why did Goldman Sachs just upgrade Core Lithium shares?
• Up 20% in a week, why is the Core Lithium share price racing higher again today?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bravura Solutions. The Motley Fool Australia has recommended Atturra. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.