3 ASX healthcare stocks that burned the market today
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The S & P / ASX 200 Index (ASX: XJO) ranged today and ended the session 0.11% in the green at 7,407.5 points.
Meanwhile, the S & P / ASX 200 Healthcare Index (ASX: XHJ) matched the broader market and also ended up 0.11% today.
These 3 ASX healthcare stocks clearly stood out among the packs, each beating the market by 10% today. Here are the details.
Clinic and software operator Emyria topped the lead today by 10% despite the lack of sensitive market information from the company.
However, Emyria’s shares took off almost vertically last week and have not slowed since. The company released a flurry of announcements this week. Even still, investors were piling up and pushing up prices in the days before.
For example, he announced a collaboration with strategic investor Tattarang, where the private investment group secured $ 5 million in Emyria through a stock placement.
The funds will be used to accelerate synthetic cannabinoid registration programs with the TGA and the FDA, and to advance Emyria’s new MDMA analog development program with the University of Western Australia.
Then he continued two days later by reporting that he had received an R&D tax incentive refund of $ 1.162 million, which has kept his stock price on the rise until today.
All in all, it has been a pleasant gain this month for Emyria shareholders. After a slight setback in the middle of the month, Emyria’s share price has gained over 92% so far in November.
Stocks of Control Bionics also came out on top today, closing about 11.5% higher at 45.75 cents. Control’s share price has declined for the past 3 months and hit a 3-month low of 40.5 cents yesterday.
However, his presentation yesterday at the Morgans Investment conference appears to have caught the attention of investors once again. In the display, the company said it aims to combine its “NeuroNode wearable technology with high-quality eyepiece camera technology by creating market-leading products that deliver faster communication speed and much less fatigue. than the existing competition in the world “.
He also noted nearly $ 4 million in revenue in FY21 and a healthy balance sheet with $ 12 million in cash as of June 30, 2021.
Control Bionics also intends to expand its product line in the autism assistive technology market. Today’s gains are welcome after a difficult year for the company’s stock price, having recorded a loss of 61% in the past 12 months.
Singular Health Group Ltd (ASX: SHG)
Shares of tech imaging player Singular Health jumped 10% to end at 27.5 cents. In fact, shares of Singular Health have climbed 17% in the past 2 days, after hitting the 30-cent high last week.
Investors appear to have had a mixed reaction to the confirmation that Singular is forming a 50/50 Joint Venture (JV) with TerraCentric Pty Ltd under the name of GeoVR Pty Ltd.
The sole objective of the JV is to commercialize the GeoVR technology of 3D software and virtual reality. Specifically, the new company will focus on mineral exploration data for visualization in a fully interactive 3D environment.
This decision was described as a critical step by the company to diversify from traditional medical markets.
After the publication, stocks rallied slightly, before tumbling to over 21% in a matter of days. Today’s gains are therefore difficult to pin down, but are certainly part of the larger volatility of the name.
For example, the Singular Health share price traded up to 30 cents and closed at 16 cents for the past 3 months, a price spread of 130%.
These 3 ASX healthcare stocks have all overtaken the market today amid broader industry forces.