It's been a big day for several ASX All Ords shares, with three companies in particular seeing strong gains.
Novonix Ltd (ASX: NVX), PYC Therapeutics Ltd (ASX: PYC), and Strike Energy Ltd (ASX: STX) have all surged by more than 12%.
Despite no price-sensitive announcements from any of these companies today, several updates might explain some of the buying activity.
Let's take a closer look.
ASX All Ords shares rally
Novonix has jumped by more than 15% today and is currently trading at 64 cents per share.
The ASX All Ords share is also up more than 17% over the past week after hitting lows of 52 cents apiece on September 23.
Shares in the battery technology company have been heavily sold, and the company's FY24 results added to the pressure.
Revenues slumped by 30%, leading to a net loss of nearly $30 million, with the company burning through $26 million of cash for the year.
Novonix also presented its investment case, long-term outlook and current financial position at the H.C. Wainwright 26th Annual Global Investment Conference earlier this month.
Here, it covered the entire value proposition for investing in the company, providing details on its battery technology.
This may or may not have stirred up some buying activity in the ASX All Ords share.
PYC shares jump
PYC Therapeutics shares have climbed nearly 13% and now trade at 17.5 cents at the time of writing.
This extends gains over the past month to an eye-watering 59% after the company received approval to commence trials on its drug candidate in August for the potential treatment of a rare, irreversible eye disorder.
The ASX All Ords share popped since then and has since raced to new 52-week highs today.
Meanwhile, the company presented at the E&P Healthcare Conference today. Whilst not price-sensitive in any way, it appears the market is still responding positively to the information shared at the event.
PYC Therapeutics has been developing therapies targeting genetic eye diseases. Investors attending today's conference were treated to the latest in the company's trial data, clinical programs, and future plans.
The biotech stock is up 185% in the past year.
Strike Energy lifts higher
Strike Energy shares caught a bid on Monday following the company's update on its Walyering gas field.
The trend has continued into this current session. The ASX All Ords share is up 12.5% on the day to fetch 22.5 cents per share at the time of writing.
Strike also announced it has already generated $64 million in gross sales revenue from Walyering, achieving payback on the project earlier this year.
Some of the recent buying may be put down to institutional investors putting money to work.
JPMorgan has become a substantial holder in Strike. As of September 20, JPMorgan filings show the banking giant holds a 5.11% voting power in Strike, representing 146.4 million ordinary shares.
ASX All Ords shares takeaway
Investors are buying these ASX All Ords shares en masse today, driving double-digit returns. While there's nothing price-sensitive to mention, investors still have plenty to consider with each.
Meanwhile, the S&P/ASX 200 index (ASX: XJO) is up 0.85% at the time of writing.
