Why Lake Resources, Pro Medicus, Race Oncology, and Universal Store shares are rising today

Let's take a closer look.

| More on:
a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 6,983 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price is up 9% to 18 cents. This is despite there being no news out of the lithium developer. However, with its shares still down over 80% since this time last year, some investors may believe they have been oversold.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is up 3% to $84.02. Once again, this is despite there being no news out of the health imaging technology company. Though, it is worth noting that the tech sector has been outperforming on Tuesday. This follows a reasonably positive night for the tech-focused Nasdaq index overnight.

Race Oncology Ltd (ASX: RAC)

The Race Oncology share price is up 10% to $1.01. Investors have been buying this oncology-focused biotechnology company's shares today following the release of positive interim clinical results from an ongoing investigator-initiated Phase 2 trial of bisantrene in combination with fludarabine and clofarabine in relapsed or refractory Acute Myeloid Leukaemia patients.

Universal Store Holdings Ltd (ASX: UNI)

The Universal Store share price is up 2% to $3.43. This morning, analysts at Bell Potter initiated coverage on the youth fashion retailer's shares with a buy rating and $4.60 price target. The broker sees scope for the company to almost double its store network. Combined with margin expansion potential, Bell Potter sees strong earnings growth ahead.

Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Happy diverse colleagues or team of people give high five together to celebrate great teamwork and results.
Share Gainers

Why 4DMedical, Iress, Premier Investments, and Tuas shares are pushing higher

These ASX shares are ending the week on a high.

Read more »

A woman holds her hand out under a graphic hologram image of a human brain with brightly lit segments and section points.
Technology Shares

Up 40%: What on earth happened to BrainChip shares in November?

How did Brainchip shares pull off such an incredible November?

Read more »

A woman is excited as she reads the latest rumour on her phone.
Share Gainers

Why did Zip shares jump 42% in November?

Zip shares delivered strong returns for investors last month. But why?

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Share Gainers

These were the best performers on the ASX 200 in November

These ASX 200 shares made their shareholders smile last month.

Read more »

Smiling elderly couple looking at their superannuation account, symbolising retirement.
Share Gainers

Why EML, IPD, Iress, and Temple & Webster shares are charging higher today

These ASX shares are ending the month on a positive note. But why?

Read more »

Man pointing at a blue rising share price graph.
Share Gainers

These 3 ASX All Ords shares are surging more than 10% on Thursday. Here's why

Investors are sending these three ASX All Ords shares soaring on Thursday.

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Evolution, Fisher & Paykel, IDP Education, and Temple & Webster shares are jumping

These ASX shares are having a strong session on hump day. But why?

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Collins Foods, Healius, Imugene, and Link shares are climbing today

These ASX shares are having a stronger day than most on Tuesday.

Read more »