Why Australian Ethical, PYC, Resolute, and Star shares are falling today

These shares are starting the week in the red. But why?

| More on:
A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.

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

The S&P/ASX 200 Index (ASX: XJO) is back on form and pushing higher on Monday. In afternoon trade, the benchmark index is up 0.4% to 8,345.1 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Australian Ethical Investment Ltd (ASX: AEF)

The Australian Ethical share price is down 2.5% to $5.17. This follows the release of the fund manager's quarterly update. Investors have been selling shares despite Australian Ethical continuing to see growth in funds under management (FUM) with another quarter of positive net flows and investment performance. This led to the company reaching the milestone of $13 billion FUM during the quarter. Managing Director, John McMurdo, said: "I'm delighted that our continued commitment to our growth strategy has enabled us to achieve new milestones over the period, with $13.26 billion in FUM reflecting 27% growth for the financial year to date." It seems that some investors were expecting even stronger growth from the fund manager.

PYC Therapeutics Ltd (ASX: PYC)

The PYC Therapeutics share price is down 3.5% to $1.12. This morning, this clinical-stage biotechnology company revealed that the US Food and Drug Administration (FDA) has granted it a Rare Pediatric Disease (RPD) designation for its VP-001 drug development program. This program aims to address the underlying cause of a blinding eye disease in childhood known as Retinitis Pigmentosa type 11 (RP11). This development may have already been priced in by the market.

Resolute Mining Ltd (ASX: RSG)

The Resolute Mining share price is down over 3% to 39.2 cents. This appears to have been driven by a pullback in the gold price on Friday night. It isn't just Resolute Mining that is falling today. A number of gold miners are starting the week in the red. As a result, the S&P/ASX All Ords Gold index is down over 1% at the time of writing.

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is down almost 6% to 13.2 cents. Investors have been selling this struggling casino and resorts operator's shares following the release of its quarterly update. Star revealed that revenue was down 15% quarter on quarter in the second quarter to $299 million. And while EBITDA was negative at $8 million for the second quarter excluding significant items, this was an improvement on the $18 million EBITDA loss it recorded in the first quarter.

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 Australian Ethical Investment. The Motley Fool Australia has recommended Australian Ethical Investment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Beach Energy, Myer, Pexa, and Pinnacle shares are falling today

These shares are under pressure on Thursday. What's going?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Block, Canyon, Fisher & Paykel Healthcare, and Mesoblast shares are falling today

These shares are having a tough time on hump day. What's going on?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Fisher & Paykel Healthcare, Magellan, Resolute Mining, and Westgold shares are sinking today

These shares are starting the week deep in the red. But why?

Read more »

plummeting gold share price
Gold

Guess which ASX 200 gold stock just plunged 12% on FY 2025 production woes

The ASX 200 gold stock is taking a sharp fall on Monday. Let’s find out why.

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Share Fallers

These were the worst performing ASX 200 shares in January 2025

These shares had a month to forget. Why were investors selling them? Let's find out.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Magellan, Medadvisor, Origin Energy, and Pointsbet shares are tumbling today

These shares are ending the week in the red. But why?

Read more »

A man with his back to the camera holds his hands to his head as he looks to a jagged red line trending sharply downward representing the ASX tech share sell-off today
Share Fallers

Why Appen, Credit Corp, Mineral Resources, and Zip shares are sinking today

These shares are missing out on the good times on Thursday and dropping into the red.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Accent, Aroa, Playside, and Premier Investments shares are tumbling today

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

Read more »