In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.4% to 8,259.4 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Healius Ltd (ASX: HLS)
The Healius share price is down 17% to $1.32. Investors have been selling this healthcare company's shares following the release of a trading update at its annual general meeting. At the event, management said: "In terms of a trading update – Pathology volumes have increased by 4.5% for the year to date, with revenues growing by 5.9%. While this is pleasing, it is worth noting that this does not translate immediately to earnings due to our investment in growing revenues as a key pillar of our strategy, along with labour cost pressures for EBAs and other inflationary increases."
Opthea Ltd (ASX: OPT)
The Opthea share price is down 7% to 65 cents. This is despite the clinical stage biopharmaceutical company announcing that it has received a major research and development (R&D) tax credit from the Australian Taxation Office. Opthea has received A$15.9 million (US$10.4 million) for research and development costs incurred in the 2023/2024 financial year. This is in line with the amount disclosed as a current tax receivable in the company's audited financial statements.
Peninsula Energy Ltd (ASX: PEN)
The Peninsula Energy share price is down 23% to 6.4 cents. This follows the release of an update on the ramp up of the Lance Project. Management notes that delays in preconditioning together with flow rate variability has led the company to further downgrade its projected production guidance for the initial year of production ramp-up in 2025 to approximately 600,000 pounds U3O8. It has also withdrawn all other guidance in relation to 2025. Positively, it doesn't expect 2026 and 2027 to be impacted by these issues.
Wildcat Resources Ltd (ASX: WC8)
The Wildcat Resources share price is down a further 11% to 28 cents. Investors have been selling this lithum explorer's shares this week amid reports that it was raided. However, Wildcat has denied the report, though it advised that it has been issued notices from ASIC. The release states: "The Company has not been raided and no Company property was seized by the Australian Securities and Investments Commission (ASIC) and is not aware that the Company is the subject of an ASIC investigation. The Company can confirm that ASIC previously issued notices to the Company requiring it to produce certain books and provide assistance in relation to trading in the Company's securities in 2023. The Company has complied with these requests."
