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The Pure Hydrogen Corporation CDI (ASX: PH2) share price has blown up over the last few weeks.

Whereas the S&P/ASX 200 Index (ASX: XJO) has slipped 1.6% into the red over the last month, Pure Hydrogen shares have jumped 30% into the green.

Let’s see what’s behind this momentum.

What’s fuelling the Pure Hydrogen share price lately?

The Pure Hydrogen share price has been on the move after the company made two major announcements in the last month.

In early August, the company advised it had delivered “excellent preliminary results” at its Serowe 3 coalbed methane (CBM) gas project.

For reference, the Serowe 3 CBM gas project is a joint venture with BotsGas on the exploration of CBM gas in Botswana, Africa.

Drilling at the site has encountered 41 metres of “interpreted gassy coal seams” and subsequently reduced the risk of commercialisation for the project. In addition, the total thickness of the coal “is more than double the pre drilling estimates”.

Then in late August, the company advised that its Serowe 4 well is to be drilled in mid-September and that “short term flow testing” of its Serowe 3 well will occur prior to this.

It also said that “processing of a new logging method” used in the Serowe 3 well had shown “absorbed gas, free gas and indications of permeability” in several coal target seams.

Speaking on the update at the time, Pure Hydrogen CEO Scott Brown said the company is “encountering much thicker gassy coal seams than (it) first expected” at Serowe.

“We expect a lot of new flow across September and October on Serowe’s progress where we are free carried,” Brown added. “Work is also advancing favourably across our hydrogen portfolio in Australia and we look forward to sharing more progress very soon.”

In the absence of any further price-sensitive news for the company over the last few weeks, it appears that investors are buying Pure Hydrogen shares on these two updates – if not for speculation on the expected new flow as well.

Pure Hydrogen share price snapshot

The Pure Hydrogen share price has climbed 190% this year to date, to be one of the ASX’s major performers. It has also gained 305% over the last 12 months – a nice outsized return for investors.

Both of these results have far outpaced the broad index’s gain of around 25% over the past year.

The post Pure Hydrogen (ASX:PH2) share price surges 30% in a month. Here’s why appeared first on The Motley Fool Australia.

More reading

• Why AGL, BHP, IRESS, & Lendlease shares are dropping
• AGL (ASX:AGL) share price crashes 7.5% to new 20 YEAR LOW!
• Why the Renascor (ASX:RNU) share price is rocketing 26% today
• Top brokers name 3 ASX shares to buy today
• Starpharma (ASX:SPL) share price surges 5% on United States patent news

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is dropping. At the time of writing, the benchmark index is down 0.25% to 7,418.6 points.

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

AGL Energy Limited (ASX: AGL)

The AGL share price has dropped 7% to $5.86. This is despite there being no news out of the energy company. However, this decline could be due to a spot of profit taking after its shares jumped earlier this week in response to a new sales arrangement for gas with Cooper Energy Ltd (ASX: COE).

BHP Group Ltd (ASX: BHP)

The BHP share price has fallen 3.5% to $40.26. This decline appears to have been driven by a pullback in commodity prices overnight. According to CommSec, the copper price fell 1.2%, the iron ore price also fell 1.2%, and the aluminium price dropped 4%. An update on the mining giant’s potash plans today wasn’t enough to support the BHP share price.

IRESS Ltd (ASX: IRE)

The IRESS share price is down 3.5% to $13.23. This financial technology company’s shares have come under pressure since revealing that it has extended the due diligence period granted to EQT. The market appears concerned that this could be a sign that the takeover approach may not be going to plan.

Lendlease Group (ASX: LLC)

The Lendlease share price is down 1% to $11.14. This morning analysts at Morgan Stanley retained their underweight rating and $11.40 price target on its shares. While the broker sees a number of potential positive catalysts for its shares, it isn’t enough for a change of rating at this point. Morgan Stanley has concerns over the sustainability of its production targets.

The post Why AGL, BHP, IRESS, & Lendlease shares are dropping appeared first on The Motley Fool Australia.

More reading

• AGL (ASX:AGL) share price crashes 7.5% to new 20 YEAR LOW!
• BHP (ASX:BHP) share price slips despite potash update
• Which ASX 300 shares are on the move mid-week?
• ASX 200 midday update: Pilbara Minerals jumps, bank shares fall
• Why the Iress (ASX:IRE) share price has shed 11% in a month

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 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 AGL Energy Limited (ASX: AGL) share price keeps going from bad to worse.

At close of trade, shares in the electricity and gas provider finished at $5.87 – down 7.12%. Earlier in the day, shares hit a 20-year low of $5.85 each – an astonishing landmark for the company.

While the company hasn’t had any market sensitive announcements recently, something is clearly scaring off investors.

Let’s take a closer look.

AGL is all out of gas

The AGL share price had a brief respite yesterday after news of a new sale agreement with ASX energy company Cooper Energy Ltd (ASX: COE). Besides that, it’s been nothing but bad news for AGL shareholders.

Take, for example, the news on 3 September when AGL was bumped out of the ASX 50. That came on the same day The Motley Fool reported AGL’s dividend yield had increased to 11.7% as its share price further decreased.

This poor run all comes off the back of the company’s FY21 full-year results where:

• Revenue decreased 10.0% on the prior corresponding period (pcp) to $10.9 billion.
• Underlying profits fell 33.5% to $537 million on the pcp.
• Underlying earnings per share (EPS) dropped 31.6% to 86.2 cents.
• Net operating cash outflow before significant items was $870 million – a 35% drop.

Management called FY21 “a challenging year” for AGL. The CEO blamed lower wholesale electricity prices, reduced electricity generation output at peak periods, and the roll-off of legacy supply contracts in wholesale gas.

What else has been affecting the AGL share price?

On the last day of the financial year, AGL announced plans to demerge into two businesses, both listed on the ASX. Accel Energy would focus on low-carbon energy production while AGL Australia’s remit will pertain to multiple energy products as well as energy trading, storage, and supply. The AGL share price slumped on the news.

In June, AGL announced the suspension of its special dividend program in which it planned to pay 25% of underlying profits over the next 2 years.

Finally, there were multiple updates relating to the company’s current and proposed work sites, including Crib Point, Loy Yang, the Portland smelter, and Liddell.

AGL share price snapshot

Over the past 12 months, the AGL share price has plummeted 59.2%. Year-to-date, its share are down 51.2%. In fact, AGL shares are so low at the moment, the price is 26.1% lower than when it first listed on the market.

AGL Energy has a market capitalisation of around $3.7 billion.

The post AGL (ASX:AGL) share price crashes 7.5% to new 20 YEAR LOW! appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are on the move mid-week?
• ASX 200 midday update: Pilbara Minerals jumps, bank shares fall
• Here’s why the AGL (ASX:AGL) share price is leaping 5%
• AGL (ASX:AGL) share price slumps despite new gas agreement
• How have ASX energy shares performed during the August 2021 earnings season?

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Renascor Resources Ltd (ASX: RNU) share price is on fire after receiving a favourable outcome from the federal government.

At the time of writing, Renascor shares are up a massive 26.92% to 16.5 cents. This means that its shares are now trading at a 6-month high.

Renascor on track for battery anode material operation

The Renascor share price is firmly in the green today after it updated investors with positive news.

Renascor advised it has received a significant boost for its planned Siviour Battery Anode Material operation (the Siviour Project) in South Australia.

According to its release, the Australian federal government has granted Renascor with Major Project Status (MPS) for the Siviour Project. The award follows the recognition of the strategic importance of the Siviour Project in contributing to Australia’s Critical Mineral Strategy.

The Siviour Project’s vertically integrated operation manufactures purified spherical graphite through the company’s eco-friendly, HF-free2 purification process. The graphite deposit located in Siviour is reported to be the largest graphite reserve outside of Africa.

Renascor’s aim is to become a leading supplier of low-cost purified spherical graphite for lithium-ion battery anode manufacturers worldwide.

The award will provide an array of benefits for the company’s Siviour Project. This includes Australian Government approvals, project support and coordination with state government approvals.

Renascor managing director, David Christensen commented:

The award of Major Project Status is an important recognition of the strategic importance of Siviour as both a world-class mineral resource and its potential to add further value through a downstream operation in Australia to produce a globally competitive, 100% Australian-made refined graphite product on globally competitive terms for direct sale to the lithium-ion battery supply chain.

The Major Project Status designation will assist us as we progress Siviour through the final development phases and will offer an important endorsement of the Project as we enter binding offtake negotiations and embark on project financing.

About the Renascor share price

Over the last 12 months, the Renascor share price has soared over 860%, with year-to-date up an astonishing 1,100%. The company’s shares have gone strength-to-strength as the lithium sector heats up.

On valuation grounds, Renascor presides a market capitalisation of roughly $272 million, with approximately 1.9 billion shares on its registry.

The post Why the Renascor (ASX:RNU) share price is rocketing 26% today appeared first on The Motley Fool Australia.

More reading

• The Renascor Resources (ASX:RNU) share price is up 41% in 30 days

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Accent Group Ltd (ASX: AX1)

According to a note out of Morgan Stanley, its analysts have upgraded this footwear retailer’s shares to an overweight rating with an improved price target of $2.60. The broker believes that Accent could open more stores than expected in FY 2022. Particularly given how 65 stores are already mostly signed and sealed. In addition to this, the broker sees opportunities for Accent to expand its Stylerunner brand overseas. The Accent share price is fetching $2.30 this afternoon.

IDP Education Ltd (ASX: IEL)

A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this language testing company’s shares to $36.40. The broker believes the worst is behind the company after a tough year and remains positive on its growth outlook. Particularly given improving trading conditions in India and the vaccination rollout in Australia. The IDP Education share price is trading at $32.83 on Wednesday.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Macquarie have retained their outperform rating and $2.70 price target on this lithium miner’s shares. This follows the completion of its second online spodumene auction. Macquarie notes that Pilbara Minerals commanded a price significantly higher than it was forecasting. It believes this is a sign that positive price momentum is likely to continue. In light of this, it remains very positive on the company’s outlook. The Pilbara Minerals share price is fetching $2.44 on Wednesday.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

• There are the 3 most traded ASX 200 shares so far today
• Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher
• Which ASX 300 shares are on the move mid-week?
• Why the Accent (ASX:AX1) share price is surging 12% today
• ASX 200 midday update: Pilbara Minerals jumps, bank shares fall

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. owns shares of and has recommended Idp Education Pty Ltd. The Motley Fool Australia has recommended Accent Group. 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 Starpharma Holdings Ltd (ASX: SPL) share price is pushing higher today following a patent update from the biopharmaceutical company.

At the time of writing, Starpharma shares are swapping hands for $1.385, up 5.73%.

What did Starpharma announce?

Investors are sending the Starpharma share price higher after the company received a new patent in relation to DEP cabazitaxel.

According to the release, the United States Patents and Trademarks Office (USPTO) approved a patent for the DEP cabazitaxel nanoparticle.

The new grant covers DEP dendrimer coupled with multiple cabazitaxel drug molecules via a particular releasable linker.

The patent is due to expire in 2039 but can be extended for a further 5 years.

Starpharma is currently trialling the DEP cabazitaxel nanoparticle in a late phase 2 clinical development. More than 40 patients with solid tissue tumours, including prostate, ovarian and gastro-oesophageal cancers have been recruited.

DEP cabazitaxel aims to treat patients with multiple cycles of DEP cabazitaxel, reducing the rate of severe life-threatening bone marrow toxicity. So far, encouraging signals have been observed in multiple tumour types where no new bone metastases were observed.

Starpharma chief executive, Dr Jackie Fairley commented:

The grant of this new US patent illustrates the unique and compelling benefits of Starpharma’s DEP drug delivery technology and DEP cabazitaxel.

We look forward to completing the phase 2 clinical program for DEP cabazitaxel, in parallel with commercial discussions with potential licensing partners.

It’s worth noting that DEP cabazitaxel is a proprietary nanoparticle version of leading prostate cancer drug cabazitaxel (Jevtana). In 2020, Jevtana achieved global sales of US$536 million.

Starpharma share price summary

At the beginning of the year, Starpharma shares rocketed to an all-time high of $2.52 in February. However, the short and sudden rise was short-lived with its shares crashing down the following month.

Since then, the company’s share price has gradually ticked lower hitting a 52-week low of $1.15 in late August. A slight rebound has ensued after investors picked up its shares at bargain prices.

Starpharma is down almost 20% when looking at the past 12 months, and around 10% lower in 2021.

The post Starpharma (ASX:SPL) share price surges 5% on United States patent news appeared first on The Motley Fool Australia.

More reading

• Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher
• Starpharma (ASX:SPL) share price tanks 3% on 67% revenue drop
• Why the Starpharma (ASX:SPL) share price raced higher today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma 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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The Insurance Australia Group Ltd (ASX: IAG) share price has lagged the major benchmarks over last few days.

Whereas the S&P/ASX 200 Index (ASX: XJO) has slipped 1.65% into the red over the last week, IAG shares have fallen 5% in the previous 7 days to trade at $5.165 each.

Let’s take a closer look at why IAG’s share price has fallen behind this past week.

What’s up with the IAG share price lately?

It seems a major selling pressure was triggered when IAG advised that CMC Hospitality Pty Ltd recently filed applications to the Federal Court to start a “representative proceeding” against the company.

As it stands, IAG “has not been served with the application” and, therefore, does not have extensive details on its nature – just yet.

But it does know the application “appears to relate to insurers who hold policies with CGU and business interruption losses related to COVID-19“, as per the company’s announcement.

For reference, CGU is an intermediary-based insurance company that is backed by its parent, none other than IAG.

In view of the spate of lockdowns in NSW and Victoria, it makes sense businesses would claim their insurance options to meet their financial obligations in a bid to remain solvent.

Indirectly acknowledging this point, IAG stated it is “one of a number of insurers” participating in an “industry test case” in the Federal Court. The hearing for this test case began on 6 September.

IAG believes the test case “is the most efficient process to obtain clarity and to resolve issues for customers with business interruption claims”.

As such, it “intends to follow the final rulings” made by the courts. It will also “assess any business interruption claims as quickly as possible” following the “final resolution of the issues in court”.

On the flip side

Zooming out and taking a long term view, it’s clear the IAG share price has lagged the major Australian indices since 2019.

Yet, despite this underperformance, it appears that money managers with a contrarian flavour to their investing style see an attractive buying opportunity in IAG shares right now.

Aberdeen Standard Investments’ Michelle Lopez was recently quoted as saying the “premium rate cycle momentum is expected to persist”, which could allow insurers to “restore margins”.

In addition, The Motley Fool’s Tony Yoo reported last month that the Firetrail Australian High Conviction Fund is overweight on IAG shares.

This is backed by bullish sentiment from analysts, with 7 out of 11 analysts recommending a “strong buy” on IAG shares.

Also, let’s not forget that IAG doubled its final dividend in its last earnings report.

So even though the IAG share price has been a major underperformer over the last few years, some experts in the field appear to hold the opposite view for its future.

IAG share price snapshot

While some experts hold a bullish view on the IAG share price into the future, when looking backwards, it’s been a choppy year on the chart.

IAG shares have gained 10% since January 1, extending the return over the last 12 months to 11%.

Both of these returns have lagged the broad index’s return of around 25% over the past year.

The post Why the IAG (ASX:IAG) share price is down 5% in 7 days appeared first on The Motley Fool Australia.

More reading

• Why experts have high hopes for the IAG (ASX:IAG) share price
• Is the IAG (ASX:IAG) share price bouncing back in September?
• Why the IAG (ASX:IAG) share price has underperformed the ASX 200 in the last year
• How have ASX financial shares performed during the August 2021 earnings season?
• Here’s why the IAG (ASX:IAG) share price is slumping today

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Insurance Australia 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 Webjet Limited (ASX: WEB) share price is taking off this month amid anticipation Australians might soon be doing the same.

Over the last 4 weeks, Webjet has only released 1 piece of news to the market. However, it was an exciting announcement.

Additionally, Australia is inching closer to vaccine targets that the federal government expects will see the country opening to both domestic and international travel once more.

Right now, the Webjet share price is $5.96, 1.3% lower than its previous close but 24.2% higher than it was 4 weeks ago.

Let’s take a closer look at what the ASX 200 travel company has been up to over the last 4 weeks.

What’s driving the Webjet share price lately?

The Webjet share price is having a great few weeks’ trade on the ASX.

The single announcement the company released to the market in the last 4 weeks was overwhelmingly positive. It noted that the company’s WebBeds business finally returned to profitability.

A reopening of travel in North America and Europe has sparked WebBeds’ return to profitability. The company suggests WebBeds will bounce back quickly when international travel resumes.

Additionally, the company’s Australian online travel agency was profitable from April 2021 to June 2021. That was before the current lockdowns began in New South Wales and, later, Victoria and the Australian Capital Territory.

The positive news and hopeful outlook saw the Webjet share price gain 3.45% on the day of the release.

However, it is outside influences that seem to have spurred on most of Webjet’s gains.

Potentially, Qantas Airways Limited (ASX: QAN) could have helped Webjet’s stock. The airline announced its plan back to international travel on 26 August, perhaps inspiring confidence in the sector.

Additionally, the Webjet share price might be rallying alongside Australia’s COVID-19 vaccine rollout.

Under the federal government’s plan, lockdowns will become sporadic and international arrival caps will be raised when 70% of Australians are fully vaccinated. The government expects international travel to restart when 80% of Australians are fully vaccinated.

As of yesterday, 68.5% of Australians have had their first COVID-19 jab.

The post Why the Webjet (ASX:WEB) share price has soared 24% in 4 weeks appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• The Webjet (ASX:WEB) share price is nearing its 52-week high. Is now the time to buy?
• Here’s why the Webjet (ASX:WEB) share price is up 50% this last year
• How have ASX travel shares performed during the August 2021 earnings season?
• When was the best ever day on the Webjet (ASX:WEB) share price chart?

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

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet 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 S&P/ASX 200 Index (ASX: XJO) is having a rather depressed day of trading on the markets this Wednesday so far. The ASX 200 is presently down 0.16% to 7,425 points.

With that out of the way, let’s instead dive a little deeper into the ASX 200 shares that are topping the charts today (at the time of writing) in terms of trading volume, according to investing.com. 

The 3 most traded ASX 200 shares so far this Wednesday

South32 Ltd (ASX: S32)

Diversified ASX 200 mining company South32 is our first ASX share to check out today. At the time of writing, a hefty 13.75 million S32 shares have traded so far today.

With no news or announcements out of the miner, we can probably put this volume down to what is happening with the South32 share price. The company is currently down a nasty 1.91% today so far to $3.34 a share. We are likely seeing a spike in trading volume because of this fall.

Scentre Group (ASX: SCG)

ASX 200 Real Estate Investment Trust (REIT) Scentre Group is our next share to check out today. This Wednesday has seen a sizeable 26.87 million Scentre units swap hands so far.

Again, we don’t have much in the way of news out of this REIT, so we can probably put this volume down to this company’s unit price performance. Unlike South32 though, Scentre is up today, by a healthy 1.55% to $2.96 a unit. This might be prompting this large trading volume we are seeing thus far.

Pilbara Minerals Ltd (ASX: PLS)

What a day Pilbara has had. This ASX 200 lithium producer has seen a whopping 41.7 million of its shares bought and sold at the time of writing.

This is almost certainly the byproduct of Pilbara hitting a new all-time high today after a positive announcement this morning. The lithium producer is presently trading at $2.46 a share, up 8.85% so far today. But it hit a high of $2.53 earlier this morning, which was a gain of roughly 10% at the time. This is clearly a factor behind the massive trading volumes we are seeing with Pilbara Minerals this Wednesday.

The post There are the 3 most traded ASX 200 shares so far today appeared first on The Motley Fool Australia.

More reading

• Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher
• Which ASX 300 shares are on the move mid-week?
• ASX 200 midday update: Pilbara Minerals jumps, bank shares fall
• Pilbara Minerals (ASX:PLS) share price rockets 10% to all-time high. Here’s why
• ASX lithium shares are rallying across the board today. Here’s why.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is off its lows but still in the red. At the time of writing, the benchmark index is down 0.2% to 7,422.7 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are racing higher:

Accent Group Ltd (ASX: AX1)

The Accent share price has jumped 11.5% to $2.29. Investors have been buying the footwear retailer’s shares after Morgan Stanley upgraded them to an overweight rating with a $2.60 price target. The broker made the move partly on the belief that the company will open more stores than forecast in FY 2022. It also sees opportunities for its store network to expand internationally in the future.

Calix Ltd (ASX: CXL)

The Calix share price has rocketed 37% higher to $5.26. Investors have been buying the new materials company’s shares after Carbon Direct invested US$15 million into one of its subsidiaries. As part of the deal, Calix has entered into a licence agreement that will earn it royalties from the deployment of its technology.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 8.5% to $2.45. Investors have been buying the lithium miner’s shares after it released the results of its second lithium spodumene concentrate digital auction. According to the update, Pilbara Minerals received a bid of US$2,240/dmt for 8,000 dmt of its spodumene concentrate. This was almost double what it received at its inaugural auction last month.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price is up 5% to $1.38. This morning the dendrimer products developer announced that it has been granted a new US patent in relation to DEP cabazitaxel. The release notes that the composition of matter patent builds on Starpharma’s suite of existing international DEP patents for the product. It specifically covers a DEP dendrimer conjugated to multiple cabazitaxel drug molecules via a particular releasable linker.

The post Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are on the move mid-week?
• Why the Accent (ASX:AX1) share price is surging 12% today
• ASX 200 midday update: Pilbara Minerals jumps, bank shares fall
• Why the Calix (ASX:CXL) share price is surging 20% to a new all-time high
• Pilbara Minerals (ASX:PLS) share price rockets 10% to all-time high. Here’s why

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. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Accent Group and Starpharma 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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