The S&P/ASX 200 Index (ASX: XJO) is out of form on Monday. In afternoon trade, the benchmark index is down 0.2% to 7,057 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is up 5% to $4.74. Investors have been buying Boss Energy and other ASX uranium shares today after the price of the chemical element hit a decade-high. Demand for use in nuclear power and supply concerns have helped propel the uranium price higher.
Imugene Limited (ASX: IMU)
The Imugene share price is up 8% to 5.4 cents. This morning, this immuno-oncology company announced the completion of the share purchase plan component of its capital raising. This has raised $18.2 million, which will be used to acquire the exclusive licensing rights to azer-cel. The azer-cel product targets CD19 to treat blood cancers.
Polynovo Ltd (ASX: PNV)
The Polynovo share price is up over 3% to $1.26. This has been driven by the release of a trading update this morning. Polynovo revealed total revenue of $7.7 million in August. This was up 118.7% on the prior corresponding period. The company's FY 2024 revenue is now up 92.7% year to date to $14.9 million.
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up 3% to $15.75. This appears to have been driven by a broker note out of Bell Potter this morning. Its analysts have upgraded the enterprise software provider's shares to a buy rating with a price target of $17.75. The broker expects TechnologyOne's upcoming FY 2023 result to be above both guidance and the consensus estimate.
