Winners and Losers: The stunning rise of LBT Innovations
Medical technologies firm LBT Innovations has more than quadrupled its value in the past year as it continues to commercialise its AI-powered solutions.
Over the past 12 months, the market capitalisation of Adelaide-based LBT Innovations has grown from $5.8 million to now $28 million, making it one of the stronger local performers and a regular feature in the Winners list.
LBT Innovations is a medical technology firm specialising in artificial intelligence. It’s been on a tear this year thanks to a number of partnerships with the likes of NovaCina, AstraZeneca and Bristol Myers Squibb.
Baker Young Limited data shows the one-year return on investment for LBT Innovations shareholders is 350 per cent.
The rise pushed the firm into the South Australian Business Index this year; the company debuted at 97th place, beating out Maggie Beer Holdings by one position.
LBT Innovations also once again features in the Winners list this week, rising by 20 per cent over the last trading week.
Vintage Energy topped the chart with a 33.33 per cent rise, followed by Archer Materials and Wommera Mining.
It was a quiet week for local Winners and Losers. Still, US-exposed stocks like Aristocrat Leisure and James Hardie delivered better-than-expected updates, as did accounting software firm Xero.
Stay informed, daily
Commonwealth Bank also hit a new all-time high of $155.13, while economic data on inflation and wages came in as expected.
There was little news from the Losers too, with Resolution Minerals dipping by 25 per cent to take out the top spot on that list.
The full list of Winners and Losers for the week ending 15 November:
