Why Novonix, Recce, Singular Health, & Starpharma shares are storming higher

Novonix Ltd (ASX:NVX) and Singular Health Group Ltd (ASX:SHG) shares are two of four storming notably higher on Friday…

| More on:
excited investor making fist at computer screen

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

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. At the time of writing, the benchmark index is down 0.2% to 6,836.4 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are storming higher:

Novonix Ltd (ASX: NVX)

The Novonix share price has jumped 7% to $2.88. Investors have been buying the battery materials company's shares after it announced the extension of its sponsorship of Prof. Mark Obrovac's lab at Dalhousie University. This will be through a new research agreement under the Natural Sciences and Engineering Research Council (NSERC) of Canada's Alliance Grants Program. Novonix will have first rights to intellectual property developed from this agreement.

Recce Pharmaceuticals Ltd (ASX: RCE)

The Recce share price is up 6% to $1.09 after reporting encouraging results from its COVID-19 studies. According to the release, the results from RECCE 327 (R327) are demonstrating encouraging virucidal activity against the SARS-CoV2 virus (COVID-19) with a positive safety profile. These findings are based on independent tests conducted by the CSIRO/Doherty Institute.

Singular Health Group Ltd (ASX: SHG)

The Singular Health share price has rocketed 92.5% higher to 38.5 cents following its successful IPO. The 3D medical imaging company's shares hit the ASX boards this morning after raising $6 million at 20 cents per share. The company's proprietary software and technology has been designed to improve the collection of medical data to inform better health decisions.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price is up 4.5% to $2.13. Investors have been buying the biotech company's shares after it signed a research agreement with global pharmaceutical giant Merck & Co. (MSD). The agreement will see MSD conduct a preclinical research evaluation of dendrimer-based Antibody Drug Conjugates (ADCs) utilising Starpharma's proprietary DEP technology.

Should you invest $1,000 in Macquarie Group Limited right now?

Before you buy Macquarie Group Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Macquarie Group Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

A neon sign says 'Top Ten'.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough trading day for ASX stocks this Monday.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why 4DMedical, Gold Road, Syrah, and Tyro shares are racing higher today

These shares are starting the week strongly. But why?

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

2 ASX gold stocks racing higher in Monday's sinking market

Investors are sending these ASX gold stocks flying higher on Monday. But why?

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords share just rocketed 19% on BIG news

Investors are sending this ASX All Ords share flying on Monday. But why?

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy finish to the week for ASX shares this Friday.

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX All Ords stocks rocketing higher this week

Investors sent these five ASX All Ords stocks soaring this week. But why?

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Boss Energy, Capstone, Dimerix, and Platinum shares are storming higher today

These shares are having a good finish to the week. Let's find out why.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »