The Lark Distilling Co Ltd (ASX: LRK) share price has been on a run today, twice hitting a new 52-week high of $1.98. Despite there being no news from the Tasmanian whisky maker, its share price continues to climb on high volume.

At the time of writing, the company’s shares are up more than 4% trading at $1.96. So, what has Lark been doing to garner such attention? Let’s take a look.

Results showing growth

Lark reported its half-year accounts towards the end of February. Pleasingly for shareholders, these numbers showed continued growth in the distilling business. Revenue from activities grew a significant 91% to $7.29 million for the period. Additionally, the company managed to turn profitable, with $542,436 in profits from the half.

In the same announcement, Lark detailed that it had a total of 817,549 litres of whisky set for maturing over the next six years. The liquidation value of the whisky would be approximately $56.7 million, while the sale value at maturation is expected to be $113.6 million.

Furthermore, Lark reported having $46.8 million in net assets at the end of December. This was strengthened by the distiller’s institutional placement of $8.85 million completed back in September of last year. As a result, Lark now has around $12 million of cash to give it financial flexibility moving forward.

Relaunch, online, limited edition

Three ingredients appear to be secrets to the current Lark share price success. The business relaunched its Forty Spotted Gin brand during the first half. The brand’s new packaging in the form of an unusual upside-down bottle has received positive consumer responses.

Forty Spotted turns #Gin on its head with striking new #packaging https://t.co/HTFXx7vcK6 @boldinc @LarkDistillery #PackagingDesign pic.twitter.com/JlwRvQIwBt

— FAB News (@fabnewslive) December 3, 2020

https://platform.twitter.com/widgets.js

Lark has also been using an accelerated social media/influencer campaign to raise brand awareness. E-commerce sales impressively increased by fivefold year over year, driven by its limited release programme.

To ensure that its liquor can be found in stores as well – Lark anticipates key distribution additions of Costco, First Choice, Liquorland, and Dan Murphy’s.

Lark share price recap

Perhaps people were driven to drink during the COVID-19 lockdowns, sending sales soaring. Whatever the catalyst, Lark Distilling has dramatically outperformed the S&P/ASX 200 Index (ASX: XJO) as a result.

The Lark share price has returned 160% over the past 12 months, in comparison to 36.3% from the index. In the last 6 months alone, Lark has gained 70%. That’s worth celebrating.

At today’s current share price, the Tassie distiller commands a market capitalisation of $112 million.

More reading

• ASX shares making the biggest moves today
• Australian funeral industry ‘on notice’ as Propel Funeral (ASX:PFP) fined by ACCC
• Top brokers name 3 ASX shares to sell today
• 2 strong blue chip ASX shares rated as buys by brokers
• Why the Boom (ASX:BOL) share price is surging 6% today

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. 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 Bruce Jackson.

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The Propel Funeral Partners Ltd (ASX: PFP) share price has risen slightly today, despite news that the Australian Competition and Consumer Commission (ACCC) fined two of the company’s regional businesses.

WT Howard Funeral Services in Taree and Coventry Funeral Homes in Townsville both continued to advertise themselves as “proudly local and independently owned” after they were bought by Sydney-based Propel in 2015 and 2019, respectively. 

The ACCC fined both businesses $12,600 for making false and misleading representations about their ownership, which led the Commission to warn the funeral sector that it plans to crack down on the industry.

ACCC cracks down on ASX funeral companies

The ACCC publicly hit out at the industry last month in its Compliance and Enforcement Priorities report.

Competition and consumer issues in the funeral services sector have long provoked complaints from the public, governments and generated stories in the media. Not least because many consumers engage with the funeral sector at a time when they are grieving, vulnerable and thereby at a disadvantage.

This is a concentrated sector with some players having significant market power. As some funeral service providers also have a large share of different services across the funeral home, cemetery and crematoria markets, there is an opportunity for these providers to bundle services and block new entrants to the market. There have been reports from people within the sector of anti-competitive conduct such as misuse of market power and exclusive dealing. We strongly encourage whistleblowers to come forward.

Propel share price outperforming Invocare ahead of uncertain future 

The fines come as Propel’s strong performance over recent months has drawn attention from the market. The Propel share price was one of the best performing ASX funeral shares on Monday. It holds about 6.3% of Australia’s funeral market, with a price-to-earnings ratio of 19.12 and a 12-month return of 2.41%.

Australia’s biggest funeral company, InvoCare Ltd (ASX: IVC), which owns brands like White Lady Funerals, is down 17.04% over the past year to $11.38 per share. InvoCare posted a 4.7% decline in revenue in the 12 months to 31 December 2020. 

While these two companies dominate the Australian funeral industry, the future of the sector appears more uncertain, with the ACCC voicing its intention to prevent further monopolisation.

“There are allegations that some funeral operators inflate the price of services, and take advantage of consumers at a vulnerable time,” ACCC Chair, Rod Sims, said at ACCC’s Committee for Economic Development Australia (CEDA) conference in February.

“Complex and opaque pricing, product bundling and other strategies adopted by some funeral operators are also issues we will be examining more closely.”

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Top brokers name 3 ASX shares to sell next week
• Propel Funeral (ASX:PFP) share price gains some glow after strong results
• InvoCare (ASX:IVC) share price lower after posting full year loss
• 3 little-known ASX dividend shares offering big income

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has recommended InvoCare Limited and Propel Funeral Partners Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On Wednesday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three ASX shares that have just been given sell ratings by brokers are listed below. Here’s why these brokers are bearish on them:

Afterpay Ltd (ASX: APT)

According to a note out of UBS, its analysts have retained their sell rating and lowly $36.00 price target on this payments company’s shares. This follows the announcement of a new buy now pay later offering by Commonwealth Bank Australia (ASX: CBA). It notes that this service will not have additional fees for merchants. The broker believes this highlights the risk Afterpay faces from regulation for its no surcharge rules for merchants. The Afterpay share price is trading at $111.13 today.

Aurizon Holdings Ltd (ASX: AZJ)

Analysts at Goldman Sachs have retained their sell rating and $3.66 price target on this rail freight company’s shares. While the broker acknowledges that Aurizon has defensive earnings and a high dividend yield, it has concerns over the impact to valuations from the deterioration in the long term outlook for global coal demand. The Aurizon share price is fetching $3.87 on Thursday afternoon.

Fortescue Metals Group Limited (ASX: FMG)

A note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $17.45 price target on this iron ore producer’s shares. According to the note, the broker fears that the recent curbing of production in China to combat pollution could bring the iron ore deficit to an end. It also suspects that the discount between low and high grade iron ore could begin to widen in the future, which would be bad news for the company. The Fortescue share price is trading at $20.36 this afternoon.

More reading

• 2 strong blue chip ASX shares rated as buys by brokers
• Hydrogen far from ‘fool cells’: EV trends and the major ASX players
• Afterpay (ASX:APT) share price drops on scathing broker note
• Why the Afterpay (ASX:APT) share price is down 7% in 2021
• Why the Monadelphous (ASX:MND) share price is in focus

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Aurizon Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Blue chip ASX shares can make good investments and some brokers have been scouring the market for the best ones to own.

The idea is that the broker will try to find the opportunities that might do well over the next 12 months – so then a price target is assigned. The bigger the price target, the stronger the return might be over the next year.

These two blue chip ASX shares are ones that leading brokers like:

CSL Limited (ASX: CSL)

CSL is actually one of the biggest blue chip shares on the ASX. It has a market capitalisation well over $100 billion.

One of the brokers that likes the CSL share price right now is UBS. Whilst the interim report was strong, the broker doesn’t think the following six months will be as good.

A key reason for the weaker expectation is that plasma collections are suffering and may not turn around until near the end of FY21.

One of the things that may help CSL is when COVID-19 vaccines have been deployed. However there is a while to go with this.

The blue chip ASX share is reporting some strength in its Seqirus business which CSL said delivered an exceptionally strong performance in the first six months of the financial year.

CSL did say that its performance is being supported by its diversified and resilient business model.

In the first half of FY21 it made $1.81 billion of net profit after tax (NPAT). Full year profit for FY21 is expected to be between $2.17 billion to $2.265 billion, which would be growth of up to 8% in constant currency terms, despite all of the impacts.

UBS has a price target of $310 for CSL shares, which would be growth of almost 30%.

Fortescue Metals Group Limited (ASX: FMG)

Fortescue is now one of the world’s biggest iron ore miners and it’s still rated as a buy by the brokers at Macquarie Group Ltd (ASX: MQG).

The blue chip ASX share is benefiting from the high iron ore prices and this is sending the net profit surging higher.

In the FY21 half-year result, revenue jumped 44% to $9.3 billion, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 57% to $6.6 billion and net profit after tax grew 66% to $4.08 billion. This funded a 93% increase of the dividend to AU$1.47 per share.

Fortescue has announced it plans to shift its business to greener initiatives sooner than expected with a goal of being carbon neutral by 2030.

Some of the plans include green hydrogen, renewable energy and green ammonia. It’s looking for these types of projects across Australia and the world. Fortescue is looking to reduce its own footprint with getting rid of diesel consumption.

Macquarie doesn’t think that FY22 will be as strong as FY21. So, for FY22, Macquarie is predicting that Fortescue can generate $2.42 of earnings per share (EPS) and that it’s going to pay a dividend of $1.94 per share. That would translate into a forward grossed-up dividend yield of 13.6%. Macquarie has a price target of $25.50 for Macquarie. 

More reading

• Top brokers name 3 ASX shares to sell today
• Hydrogen far from ‘fool cells’: EV trends and the major ASX players
• Why the Monadelphous (ASX:MND) share price is in focus
• Bring your portfolio to life with these fantastic ASX healthcare shares
• Goldman rates the BHP (ASX:BHP) share price as the best ASX iron ore producer

Tristan Harrison owns shares of Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Boom Logistics Limited (ASX: BOL) share price is surging following a new contract win with GE Renewables. At the time of writing, the lifting solutions and crane provider’s shares are up 6.6% to 16 cents.

Let’s take a closer look at what the company announced.

What’s driving the Boom share price higher?

The Boom share price is climbing as investors appear pleased with the latest update.

According to its release, Boom advised that it has secured work on the Bango wind farm in the Southern Tablelands region of New South Wales.

The project will see Boom provide a number of lifting services for the construction of the wind farm. The company will deploy a fleet of 12 cranes, which will include three 750 tonne capacity cranes. In addition, a team of 40 people comprising of specialist technicians and project management will manage the project. It’s expected that once complete, up to 38 wind towers will be installed, generating roughly 240 MW. This is enough energy to power about 100,000 residential houses.

While no financial details were given in the release, Boom stated that the project is due to commence this month.

What did the head of management say?

Boom CEO and managing director Tony Spassopoulos commented:

We have an experienced team mobilising to site, with the priority on safety first, focused on customer service and project delivery.

We continue to expand our wind farm projects business and demonstrate our capability as the leading Australian lifting solutions provider in this market segment.

Addressable market opportunity

The company noted that the energy sector remains an attractive opportunity as Australia transitions over to cleaner energy. More than 1,800 towers are earmarked for installation in the next 3 years, representing a robust market for Boom.

Complementing the potential growth, the company also mentioned that around 3,000 existing wind turbines across Australia require ongoing maintenance activity. Boom has logged increased bookings from its support business, which has further added to its revenue streams.

The Boom share price has jumped 34% in the past 12 months but is down 13% year-to-date.

More reading

• Australian funeral industry ‘on notice’ as Propel Funeral (ASX:PFP) fined by ACCC
• Top brokers name 3 ASX shares to sell today
• 2 strong blue chip ASX shares rated as buys by brokers
• Hydrogen far from ‘fool cells’: EV trends and the major ASX players
• What ASX 200 investors should know about the US Federal Reserve announcement

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. 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 Bruce Jackson.

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In an article I penned yesterday I wrote, “The consensus is that no matter what US Federal Reserve Chairman Jerome Powell tells the press today (overnight Aussie time), it will impact S&P/ASX 200 Index shares.” (You can find that article here.)

Well yesterday, overnight for you and me, Powell did speak to the press in a virtual conference. And indeed US share markets reacted immediately. Though the impact on the ASX 200 appears muted.

The Dow Jones Industrial Average (INDEXDJX: .DJI), for example, gained 0.6% in the 30 or so minutes following Powell’s speech. It closed the day up… 0.6%.

The power of the US Fed’s Powell to move share prices

Powell’s words not only have the power to move individual share prices, but to impact share markets the world over.

And, as widely expected, Powell did his best to calm the growing market fears that inflation may be just over the horizon.

As Bloomberg reports, “The Fed expects that a bump in inflation this year will be short-lived. Officials saw their preferred measure of price pressures slowing to 2% next year following a spike to 2.4% in 2021, according to the projections.”

To keep borrowing rates low, Powell indicated that the central bank’s massive quantitative easing (QE) program will remain in place, saying:

The stance of monetary policy we have today we believe is appropriate. We think our asset purchases in their current form – which is to say across the curve, $80 billion in Treasuries, $40 billion in mortgage-backed securities, on net – we think that’s the right place for our asset purchases.

The majority of the Federal Open Market Committee also reiterated their view that interest rates in the world’s largest economy would remain at their current rock bottom level through 2024.

In a sign that there is growing unease about the spectre of inflation, however, that majority has narrowed, with 7 of 18 Fed officials expecting 1 or more interest rate rise in 2023, up from 5 who expressed that view previously.

As Bloomberg noted, Powell was quick to point out this is still a minority view among the committee, saying, “The strong bulk of the committee is not showing a rate increase during this forecast period.”

Bloomberg economists look to agree, writing:

The Federal Reserve continues to hold the course, maintaining the glide path for both rates and asset purchases which it established last year, and does not appear to be close to altering its trajectory anytime soon.

ASX 200 snapshot

If the US Fed keeps its QE program humming along at full speed and maintains its 0.25% official interest rate through 2024, it will make it far easier for the world’s other central banks, including the Reserve Bank of Australia, to do the same.

And with the wall of easy money looking set to continue, that should spell good news for ASX 200 investors.

Though slipping in intraday trade today, down 0.3% at time of writing, the ASX 200 is up 1.5% in 2021 and up 36.9% over the past 12 months.

More reading

• Afterpay (ASX:APT) share price drops on scathing broker note
• Why is the Singular Health (ASX:SHG) share price frozen?
• Why Austal, Boral, Spark NZ, & Splitit are tumbling lower
• Chimeric (ASX:CHM) share price falls despite positive update
• Don’t fall into the ‘rotation trap’

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. 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 Bruce Jackson.

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The Afterpay Ltd (ASX: APT) share price has declined after being on the receiving end of a negative broker note from UBS.

What happened to the Afterpay share price?

Afterpay shares are down 1% today – and it fell below $110 earlier – after UBS issued a scathing note about the buy now, pay later business.

The trigger for the note was the announcement yesterday by Commonwealth Bank of Australia (ASX: CBA) that it plans to enter the buy now pay later sector.

One of the main things that UBS pointed out was the fact that merchants can’t pass on the costs of the buy now pay later fees – which are between 3% to 7%. However, merchants can pass on the costs of CBA’s merchant fee. Consumers are seemingly not aware that businesses have to pay Afterpay this sizeable fee.

The broker thinks that eventually, it will lead to the regulations being changed regarding surcharges. This wouldn’t be good news for Afterpay, according to UBS.

CBA’s new buy now, pay later product

Yesterday, CBA announced that it’s going to roll out a buy now, pay later product for eligible customers from mid-2021. It will link to a CBA bank account, with no ongoing fees for customers and no additional cost to businesses. Those businesses only have to pay the normal merchant fees.

Customers will have a limit of $1,000 and it can be used anywhere that Mastercard is accepted. 

The Afterpay share price rose yesterday in spite of this announcement.

CBA said:

The development of CommBank’s new BNPL offering follows recent research showing 76 per cent of Australians who currently use BNPL are interested in using a BNPL service offered by their main bank.

The research showed BNPL users feel a bank-provided BNPL service would be more secure and reliable.

CommBank’s BNPL offering is in line with shifting customer preferences and expectations around how they like to access short term credit in ways that are simple, low cost and have no surprises.

Customers of CBA will need to pass both internal and external credit assessments to be eligible. An executive of CBA noted that this is the first BNPL offering by a major bank – but does that mean that Westpac Banking Corp (ASX: WBC), Australia and New Zealand Banking Group Ltd (ASX: ANZ) and National Australia Bank Ltd (ASX: NAB) will eventually launch BNPL as well?

UBS’ share price target for Afterpay

The broker has the lowest price target for Afterpay compared to all the others. Over the next 12 months, UBS thinks the Afterpay share price could fall to just $36.

This means that UBS believes that Afterpay shares could fall by around two thirds.

More reading

• Why the Afterpay (ASX:APT) share price is down 7% in 2021
• Revealed: 4 least profitable industries in Australia
• Is the new CBA BNPL service bad news for Afterpay and Zip shares?
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 dips, CBA launches BNPL, Fonterra reports

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Singular Health Group Ltd (ASX: SHG) shares have been exempt from trading since last Friday’s close and many are curious as to why.

The medical imaging technology company went into a trading halt on Monday pending an announcement. On Wednesday, the day its shares were to resume trading, the company then requested a voluntary suspension from quotation.

Let’s look deeper into the trading halt.

Singular Health trading halt

The Singular Health share price has gone nowhere this week after the company remained in a trading halt pending further news regarding an acquisition and investment.

The company has kept any other details of the announcement secret, inevitably building anticipation among some investors.

At this point in time, however, it seems we will have to continue being patient to hear the company’s news.

The trading halt is to be lifted on Wednesday 24 February or until such time as Singular Health releases the announcement. Until then, we’ll just have to wait and see what the market newcomer has to share.

Trading halt follows rapid share price rise

Singular Health’s short time on the ASX has been profitable for shareholders. The company was first listed on 12 February 2021, following an oversubscribed capital raising.

30 million shares were offered at 20 cents each in Singular Health’s initial public offering (IPO), which raised around $6 million. This gave the company a market capitalisation of around $20 million.

Its first day on market saw the Singular Health share price gain a spectacular 90%. It has also gained another 83% since then. 

About Singular Health 

Singular Health is a Western Australian company operating in the medical imaging and printing industry.

It develops proprietary software and technology to collect medical data and help healthcare professionals and patients make informed decisions.

The company claims its volume-rendering platform accurately converts 2D medical imagery into volumetric 3D models. The models can be viewed and modified using standard monitors or virtual reality. Singular Health’s software is currently used in its flagship product MedVR.

Singular Health share price snapshot

On its last day of trading prior to the trading halt, the Singular Health share price was sitting at 69.5 cents.

Singular Health has a current market capitalisation of around $32.5 million with approximately 102 million shares outstanding.

More reading

• The Singular Health (ASX:SHG) share price launched 27% higher today
• Why the Singular Health (ASX:SHG) share price is shooting 10% higher

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is on course to record another disappointing decline on Thursday. In afternoon trade, the benchmark index is down 0.6% to 6,753.8 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

Austal Limited (ASX: ASB)

The Austal share price has fallen 3.5% to $2.32. This is despite the shipbuilder announcing the delivery of a new vessel after the market close on Wednesday. Austal delivered its ninth guardian-class patrol boat to the Australian Department of Defence. The vessel, named ‘HMPNGS Rochus Lokinap’, was gifted to the Papua New Guinea Defence Force under the Pacific Patrol Boat Replacement project.

Boral Limited (ASX: BLD)

The Boral share price is down 2% to $5.51. This decline appears to have been driven by a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the building products company’s shares to a lighten rating with a $5.00 price target. It made the move on valuation grounds.

Spark New Zealand Ltd (ASX: SPK)

The Spark New Zealand share price is down 3.5% to $4.14. The majority of this decline can be attributed to the telecommunications company’s shares trading ex-dividend this morning. Eligible shareholders can now look forward to being paid its 11.6 cents per share interim dividend next month on 9 April.

Splitit Ltd (ASX: SPT)

The Splitit share price is down 3% to 96 cents. This follows a lukewarm response to a merchant update this morning by the buy now pay later provider. While the company has been signing new merchants to its platform, it has also been losing them. For example, as I noted here, Splitit is no longer available on Kogan.com Ltd (ASX: KGN). Though, this has not been acknowledged by the company, despite it having a material impact on its share price when first announced.

More reading

• Splitit (ASX:SPT) share price lower following update
• Why the Austal (ASX:ASB) share price will be on watch today
• 5 things to watch on the ASX 200 on Wednesday
• 3 beaten down ASX shares that could be great value
• Why ASX e-commerce shares could keep running higher in 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Austal Limited. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Chimeric Therapeutics Ltd (ASX: CHM) share price is backtracking today despite announcing progress on the company’s phase 1 Chlorotoxin CAR T trials.

At the time of writing, the biotechnology company’s shares are trading at 31 cents, down 6%.

What did Chimeric announce?

The Chimeric share price is in the red today, irrespective of the company’s latest developments.

In today’s release, Chimeric advised that it has completed the planned dosing of the first group of patients in its phase 1 Chlorotoxin CAR T trial.

The dose-escalation study will assess Chlorotoxin CAR T’s safety and maximum tolerance in participants suffering from recurrent or progressive glioblastoma (GBM).

Chimeric hopes to recruit between 18 to 36 people with MMP2+ recurrent or progressive GBM across 4 different dose levels. Once the appropriate dosing amount is established, the company will then move to phase 2 trials.

The first group of patients were given the lowest dose level through a single-site administration. However, as this is the first in human phase 1 cell therapy trial, all four recruits received staggered treatment. This refers to follow-up intervals between administering the peptide from one patient to another, allowing to monitor any adverse effects.

Chimeric will seek to recruit new subjects for its next dose level after the final patient has completed the dose-limiting toxicity period.

A quick take on Chimeric

Established in 2020, Chimeric is developing a breakthrough cancer cell therapy drug for solid tumours. The company uses chlorotoxin, which comes from scorpion venom, to bind and direct T cells to target GBM.

Initial scientific research conducted at the City of Hope Cancer Centre in Los Angeles found promising anti-tumour activity from CAR T therapy.

Chimeric share price snapshot

Since its initial public offering (IPO) listing in January this year, the Chimeric share price has gained around 8%.

Chimeric commands a market capitalisation of close to $63 million on current valuation grounds, with 196.5 million shares on issue.

More reading

• Don’t fall into the ‘rotation trap’
• Here’s why the Ionic Rare Earths (ASX:IXR) share price is up 190% YTD
• Why the Creso Pharma (ASX:CPH) share price is rocketing 16% higher today
• Why the Sayona Mining (ASX:SYA) share price is rocketing 25%
• Decmil (ASX:DCG) share price lifts on $25 million contract win

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. 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 Bruce Jackson.

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