The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Tuesday and is trading slightly lower. In afternoon trade, the benchmark index is down 0.1% to 7,754.1 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising today:
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Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price is up 7.5% to $5.63. This is despite there being no news out of the clinical-stage radiopharmaceutical company. However, it is worth noting that its shares have been on fire since last week when it announced that it has entered into a supply agreement with SpectronRx for the production of Cu-64. Management notes that Cu-64 has an ideal 12.7-hour half-life that helps to overcome the overwhelming supply restraints of current-generation radiodiagnostics. This significantly reduces the scheduling strain on imaging centres, as well as enhancing product performance with longer imaging time points.
Life360 Inc (ASX: 360)
The Life 360 share price is up 2.5% to $15.56. Investors have been buying the location technology company's shares after it launched its Nasdaq IPO. Life360 estimates that it will receive net proceeds of approximately US$84.4 million from the offering. Management advised that the principal purposes of this IPO are to increase its capitalisation and financial flexibility and create a public market for its common stock in the United States.
Ramsay Health Care Ltd (ASX: RHC)
The Ramsay Health Care share price is up 3.5% to $48.67. This is despite there being no news out of the private hospital operator. However, with its shares down sharply over the last 12 months and trading within sight of a multi-year low, some investors may believe that now is a good time to snap them up. It is also worth noting that Ramsay Health Care has been the subject of takeover interest in the past.
Spartan Resources Ltd (ASX: SPR)
The Spartan Resources share price is up 4% to 76 cents. This has been driven by the release of a drilling update from the gold explorer this morning. The company notes that its deepest intercept to date confirms consistent thick mineralisation over 120m along-strike and 150m down-plunge at fast-growing high-grade discovery. Spartan CEO Simon Lawson said: "Just weeks after its discovery in May 2024, Pepper is already emerging as a significant new high-grade ore system immediately adjacent to our flagship deposit, the 0.95Moz Never Never Gold Deposit, discovered in 2022."
