ASX market movers: Cogstate, Cettire

Posted: 8 June 2021 4:49 pm

The 10 biggest movers on the ASX today.

Top movers on the ASX Tuesday 8 June 2021

Neuroscience company Cogstate (CGS) and luxury clothing retailer Cettire (CTT) were the two standout performers on the Australian Securities Exchange on Tuesday.

Cogstate (CGS) was the dominant mover on the ASX. Shares in the company rose 51.3% to $1.40.

"Cogstate shareholders received some positive news today after a new treatment for Alzheimers was given the green light from US regulators for the first time in almost two decades," said Finder's investments editor Kylie Purcell.

Cogstate sits in the healthcare equipment and services sector, specialising in brain scanning technology.

"Cogstate benefits from this update thanks to a 10-year partnership it entered into last year with Japanese pharmaceutical company Eisai. Meanwhile, Eisai is partnered with Biogen, which developed the new Alzheimers treatment drug called Aduhelm," said Purcell.

In a statement to the ASX, Cogstate said its technologies would play an important role in the launch of new disease modifying therapies, such as Aduhelm.

Learn more about investing in Cogstate in Finder's full guide.

Also performing strongly was Cettire (CTT), the retailing company. It rose 14.2% to close at $2.73.

"It's the second time in the last month that Cettire has been one of the two top performing stocks on the ASX," said Purcell.

"Its stock price jumped last month after it partnered with BNPL partner Klarna. On Monday after the market closed, a release to the ASX noted the intention of private US investment firm Cat Rock Capital to become a substantial shareholder in the CTT."

Learn more about investing in Cettire in Finder's full guide.

Here's a fuller list of the biggest movers on the market today.

StockClose% change
Cogstate (CGS)$1.4758.1%
Cettire (CTT)$2.7314.2%
Mesoblast (MSB)$1.949.6%
Eml Payments (EML)$3.696.0%
New Energy Solar (NEW)$0.905.9%
Betmakers Technology Group (BET)$1.075.9%
Wisetech Global (WTC)$31.095.6%
Pointsbet Holdings (PBH)$13.305.6%
Ardent Leisure Group (ALG)$1.035.1%
Sovereign Metals (SVM)$0.674.7%

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Market indicators Tuesday 8 June 2021

Overall, the S&P/ASX200 closed up Tuesday, gaining 18 points (0.24%) to 7299.6.

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

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