3 ASX All Ords shares rocketing over 12% on Thursday

Double-digit returns for these ASX names.

| More on:
Three rockets heading to space

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

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.

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

A happy elderly woman smiles and cheers as she looks at good investment news on her laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

Today's session was one for the record books.

Read more »

A young woman drinking coffee in a cafe smiles as she checks her phone.
Share Gainers

Why Infomedia, News Corp, REA Group, and West African shares are storming higher

These shares are having a great session on hump day. But why?

Read more »

A silhouette of a soldier flying a drone at sunset.
Share Gainers

Invested $10,000 in DroneShield shares in January? Guess how much that's worth today!

After being labelled overvalued in mid-2024, DroneShield shares have shot the lights out in 2025.

Read more »

Girl with painted hands.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a spectacular day for investors this Tuesday.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Share Gainers

Why Austal, Credit Corp, EOS, and ResMed shares are racing higher today

These shares are rising more than most today. But why?

Read more »

A man with a beard and wearing dark sunglasses and a beanie head covering raises a fist in happy celebration as he sits at is computer in a home environment.
Share Gainers

Guess which ASX tech stock just jumped 14% on 'impressive growth'

Investors are piling into the ASX tech stock on Tuesday. Here's why.

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wild and woolly trading session.

Read more »

A neon sign says 'Top Ten'.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to the trading week this Friday.

Read more »