Why Appen, Imugene, OZ Minerals, and Paradigm shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to 7,017.1 points.

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

Appen Ltd (ASX: APX)

The Appen share price is up 10% to $4.84. This morning the artificial intelligence data services company was the subject of a mixed note out of Citi. The broker has looked at the result of rival Telus and suspects that Appen is losing market share. However, it also feels that Appen could still be a takeover target.

Imugene Limited (ASX: IMU)

The Imugene share price is up almost 8% to 28 cents. This follows the release of new data from the non-small cell lung cancer patients in the Phase I IMPRINTER trial at the IASLC 2022 World Conference on Lung Cancer. The clinical stage immuno-oncology company revealed that it is seeing positive signals with correlative biomarker data at an early stage in its PD1-Vaxx Phase I trial.

OZ Minerals Limited (ASX: OZL)

The OZ Minerals share price has rocketed 35% higher to $25.55. This morning the copper miner revealed that it received and rejected a $25.00 per share non-binding takeover approach from mining giant BHP Group Ltd (ASX: BHP). The OZ Minerals board believes the offer undervalues the company.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is up over 10% to $1.90. This follows news that the company is planning to present data from the open-label phase 2 study of pentosan polysulfate sodium (PPS) for mucopolysaccharidosis type I (MPS-I) at the 2023 ICLD meeting. Management will also provide an update on the ongoing multi-centre double-blind randomised phase 2 study comparing PPS to placebo in mucopolysaccharidosis type VI (MPS-VI) patients.

The post Why Appen, Imugene, OZ Minerals, and Paradigm shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Why is the Appen share price jumping 10% on Monday?
• Why is the Paradigm Biopharmaceuticals share price up 12% on Monday?
• ASX copper shares explode by up to 34% following BHP takeover bid
• Why is the Copper Mountain share price surging 30% on Monday?
• The OZ Minerals share price is rocketing 35% after BHP bid

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 Appen Ltd. 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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