The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Tuesday and is trading slightly lower. In afternoon trade, the benchmark index is down 0.1% to 7,754.1 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising today:
Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price is up 7.5% to $5.63. This is despite there being no news out of the clinical-stage radiopharmaceutical company. However, it is worth noting that its shares have been on fire since last week when it announced that it has entered into a supply agreement with SpectronRx for the production of Cu-64. Management notes that Cu-64 has an ideal 12.7-hour half-life that helps to overcome the overwhelming supply restraints of current-generation radiodiagnostics. This significantly reduces the scheduling strain on imaging centres, as well as enhancing product performance with longer imaging timepoints.
Life360 Inc (ASX: 360)
The Life 360 share price is up 2.5% to $15.56. Investors have been buying the location technology company’s shares after it launched its Nasdaq IPO. Life360 estimates that it will receive net proceeds of approximately US$84.4 million from the offering. Management advised that the principal purposes of this IPO are to increase its capitalisation and financial flexibility and create a public market for its common stock in the United States.
Ramsay Health Care Ltd (ASX: RHC)
The Ramsay Health Care share price is up 3.5% to $48.67. This is despite there being no news out of the private hospital operator. However, with its shares down sharply over the last 12 months and trading within sight of a multi-year low, some investors may believe that now is a good time to snap them up. It is also worth noting that Ramsay Health Care has been the subject of takeover interest in the past.
Spartan Resources Ltd (ASX: SPR)
The Spartan Resources share price is up 4% to 76 cents. This has been driven by the release of a drilling update from the gold explorer this morning. The company notes that its deepest intercept to date confirms consistent thick mineralisation over 120m along-strike and 150m down-plunge at fast-growing high-grade discovery. Spartan CEO, Simon Lawson, said: “Just weeks after its discovery in May 2024, Pepper is already emerging as a significant new high-grade ore system immediately adjacent to our flagship deposit, the 0.95Moz Never Never Gold Deposit, discovered in 2022.”
The post Why Clarity Pharmaceuticals, Life360, Ramsay Health Care, and Spartan Resources shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Why these 4 ASX 200 shares were just rerated by top brokers
- Life360 shares jump 7% on Nasdaq IPO launch
- 5 things to watch on the ASX 200 on Tuesday
- I think this is the best ASX artificial intelligence (AI) stock to buy right now
- 3 ASX 200 tech stocks that smashed the market in May
Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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