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Today’s ASX top stocks: Race Oncology (RAC ↑11.2%), Silex Systems (SLX ↑4.4%)

Posted: 9 June 2022 1:44 pm
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The 10 biggest movers on the ASX.

The best-performing companies on the ASX so far today were Race Oncology (RAC, up 11.2%) and Silex Systems (SLX, up 4.4%).

Top movers on the ASX Thursday 9 June 2022

Race Oncology was the largest mover on the ASX today. Shares in the company rose 11.2% to $1.88.

The pharmaceutical company is responding positively to news that it will have an on-market buyback.

The company's statement indicates that the board will buy back up to 4 million ordinary shares over the next 12 months to help maximise shareholder values.

Race CEO Phillip Lynch said to the ASX, "The Board believes Race is currently undervalued due to a range of factors external to the company's fundamentals. We believe a share buyback is an appropriate use of capital at this point in time, and that the quantum involved will not compromise pre-clinical and clinical programs as committed under our recent Share Purchase Plan."

Learn more about investing in Race Oncology in Finder's full guide.

The second place for market gainers went to Silex Systems, the semiconductors and technology equipment company. Its shares rose 4.4% to reach $1.67.

However, the company has announced no new information to the market.

Find out more about investing in Silex Systems in Finder's full guide.

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Today's list of the 10 biggest ASX movers so far include the following:

StockPrice% change
Race Oncology (RAC)$1.8811.2%
Silex Systems (SLX)$1.674.4%
Lovisa Holdings (LOV)$14.144.4%
Mount Gibson Iron (MGX)$0.724.3%
Latitude Group Holdings (LFS)$1.744.2%
Avita Medical (AVH)$1.663.7%
Boss Energy (BOE)$2.533.3%
Magellan Financial Group (MFG)$12.912.9%
Redbubble (RBL)$0.922.2%
Generation Development Group (GDG)$1.402.2%

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Each weekday we round up the best-performing stocks on the Australian Securities Exchange (ASX), ranked by price percentage from market open to 11am (Sydney time). To avoid higher price volatility we only include stocks with market caps of more than $200 million. Price changes are calculated at 11am on the trading day, but these prices may be subject to minor variation depending on data availability.

Need a better share trading platform? Check out Finder's full review of the best online brokers in Australia right now.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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