The Australian share market might be in a holding pattern today as it awaits the RBA's interest rate decision, but that hasn't stopped some ASX shares from shooting higher.
Three ASX healthcare shares that have recorded particularly strong gains are listed below. Here's why they are getting investors excited:
Advanced Health Intelligence Ltd (ASX: AHI)
The Advanced Health Intelligence share price is up 20% to 24 cents. That's despite there being no news out of the health software company. However, it is worth noting that the company's shares on the NASDAQ rocketed higher overnight. Advanced Health Intelligence recently underwent a reverse split with its US-listed shares in order to remain compliant with listing rules after trading below $1 for 33 consecutive business days.
Atomo Diagnostics Ltd (ASX: AT1)
The Atomo Diagnostics share price is up 100% to 7.1 cents. Investors have been buying this integrated rapid diagnostic test (RDT) device provider's shares this week after a major shareholder increased its holding. GZ Family Holdings has almost doubled its holding since the middle of May to approximately 79.8 million shares. This gives it a 13.98% stake in the ASX healthcare share. Last month, the company entered into an exclusive supply agreement with UK-based company Newfoundland Diagnostics for HIV rapid testing in Europe.
Lumos Diagnostics Holdings Ltd (ASX: LDX)
The Lumos Diagnostics share price is up 71% to 12.5 cents. This latest gain means this ASX healthcare share is now up approximately 1,000% over the last two trading sessions. The catalyst for this has been the granting of US FDA clearance to market its FebriDx rapid, point-of-care test in the United States. FebriDx is to be marketed for use by healthcare professionals as an aid in the diagnosis of bacterial acute respiratory infection.
