Why Avita Medical, Imugene, Pantoro, and Tietto shares are pushing higher

These ASX shares are having a good finish to the week. But why?

| More on:
Man drawing an upward line on a bar graph symbolising a rising share price.

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 end the week with a disappointing decline. At the time of writing, the benchmark index is down 0.55% to 6,976.4 points.

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

AVITA Medical Inc (ASX: AVH)

The Avita Medical share price is up 16% to $3.68. This follows the release of the regenerative medicine company's third-quarter update. It reported a 51% increase in commercial revenue to US$13.5 million for the three months. And while it is still making a loss, management believes it is has sufficient cash to see it through to profitability in 2025.

Imugene Limited (ASX: IMU)

The Imugene share price is up 4.5% to 11.5 cents. Investors have been buying this biotechnology company's shares after it announced a major milestone. Imugene's major milestone is the dosing of the first patient in a Phase 1b clinical trial using azer-cel, manufactured and supplied from its state-of-the-art facility in North Carolina.

Pantoro Ltd (ASX: PNR)

The Pantoro share price is up 23% to 4.8 cents. This has been driven by news that the gold miner has sold its lithium and base metal rights from the Norseman Gold Project to Mineral Resources Ltd (ASX: MIN) for up to $60 million. Management commented: "This transaction provides Pantoro with strong immediate value for minerals which have not yet been identified in economic quantities at Norseman."

Tietto Minerals Ltd (ASX: TIE)

The Tietto share price is up 2% to 59 cents. This morning, the gold miner released an update on its proposed takeover by Zhaojin. Once again, it unanimously recommends that shareholders take no action. The company's board believe the 58 cents per share offer "materially undervalues Tietto."

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 positions in and has recommended Avita Medical. The Motley Fool Australia has recommended Avita Medical. 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

People sit in rollercoaster seats with expressions of fear, terror and exhilaration as it goes into a steep downward descent representing the Novonix share price in FY22
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the trading week this Friday.

Read more »

Siblings jumping on a trampoline.
Share Gainers

These 3 ASX 200 stocks are charging higher this week. Own any?

Investors have been piling into these ASX 200 stocks this week. But why?

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Domino's, Nick Scali, REA, and Sigma shares are charging higher today

These shares are ending the week on a high. Let's see why investors are bidding them higher today.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why BWP, Magellan, News Corp, and Winsome shares are pushing higher today

These shares are having a better day than most on Thursday. But why?

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back in form this hump day...

Read more »

A boy stands firm on a rocky cliff holding a rocket in each hand and looking up toward the sky, anticipating flying into space.
Resources Shares

Up 864% in a year, how this ASX mining stock is primed to keep rocketing in 2025

The ASX mining stock looks to be in a sweet spot amid export bans from China and Russia.

Read more »

Happy coal miner.
Energy Shares

Why are ASX coal shares having such a cracking run today?

The latest salvo in the new American tariff war is benefiting some ASX shares.

Read more »

Wife and husband with a laptop on a sofa over the moon at good news.
Share Gainers

Why BWP, Insignia, Nufarm, and Pinnacle shares are charging higher today

These shares are having a good time on hump day. But why?

Read more »