Why Adore Beauty, Catapult, Healius, and Ramelius shares are storming higher

These ASX shares are having a solid start to the week.

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

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.55% to 7,001.3 points.

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

Adore Beauty Group Ltd (ASX: ABY)

The Adore Beauty share price is up almost 18% to $1.10. This morning, this online beauty retailer revealed that it received and rejected a takeover offer from UK rival, THG plc (LSE: THG). A non-binding, conditional, and indicative proposal of $1.25 to $1.30 cash per share was tabled. However, the Adore Beauty board "concluded that the Proposal undervalued the Company."

Catapult Group International Ltd (ASX: CAT)

The Catapult share price is up 12% to $1.27. This is despite there being no news out of the sports analytics company. However, it is worth noting that earlier this month, analysts at Bell Potter responded to the company's half-year results by putting a buy rating and $1.35 price target on its shares.

Healius Ltd (ASX: HLS)

The Healius share price is up 5% to $1.37. This morning, this embattled healthcare company announced that its chair, Jenny Macdonald, would step down this week. Macdonald said: "I believe it is important for the company to have a Chair who has the full support of shareholders and therefore I have taken the decision to step down."

Ramelius Resources Ltd (ASX: RMS)

The Ramelius Resources share price is up 3.5% to $1.58. Investors have been buying Ramelius and other gold miners on Monday following a rise in the gold price. This has led to the S&P/ASX All Ordinaries Gold index outperforming today with a 1% gain.

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 Catapult Group International. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group. The Motley Fool Australia has recommended Adore Beauty Group and Catapult Group International. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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