Why BlueBet, Dicker Data, Immutep, & Sandfire are charging higher

These ASX shares are starting the month strongly…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is off its intraday lows but still trading lower. At the time of writing, the benchmark index is down 0.3% to 7,513.5 points.

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

BlueBet Holdings Ltd (ASX: BBT)

The BlueBet share price is up 4% to $2.61. Today’s gain appears to have been driven by a broker note out of Morgans this morning. In response to the sports betting company’s full year results, the broker has retained its add rating and lifted its price target to $2.80. It was pleased with BlueBet’s performance in FY 2021 and expects further strong growth in FY 2022.

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price has rebounded 7% to $13.57. Investors had been selling this IT distributor’s shares in recent trading sessions following the sale of shares by its CEO, David Dicker. However, Mr Dicker appears to have eased any concerns brought about by the sale. He said: “This sale seems to have provoked a loss of confidence in DDR which is entirely unwarranted. It seems that people have read things into this sale that are just not there. This sale does not mean, in any way, that I am reducing my role or involvement with Dicker Data.”

Immutep Ltd (ASX: IMM)

The Immutep share price is up 7.5% to 57 cents. This follows news that the biotechnology company has completed the recruitment for Stage 2 of Part B of its Phase II TACTI-002 study. This trial is evaluating the combination of Immutep’s Efti with Merck’s Keytruda product in patients with second line head and neck squamous cell carcinoma or non-small cell lung cancer.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire Resources share price is up 3% to $6.70. This appears to have been driven partly by a positive broker note out of Morgans this morning. According to the note, the broker has upgraded the copper miner’s shares to an add rating with a $7.61 price target. Morgans notes that Sandfire’s full year result was stronger than it expected. It also feels positive on the future due to favourable copper prices.

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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 Dicker Data Limited. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia has recommended BlueBet Holdings 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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