The following healthcare stocks (Abiomed, Oak Street Health, Inc., CureVac N.V.) are reaching higher-than-usual volumes.
What is happening with the market now? The leading indices are falling — Nasdaq drawing back 1.4% to 11,944. S&P 500 slipping 0.83% and closing at 4,129.39.
Why Trading Volume Matters
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
Though trading was down yesterday, some healthcare stocks are currently at high volumes. Here is an update.
Abiomed | 15.70 million traded volume so far today exceeding the daily average by 506%
A hectic day for Abiomed, surpassing its average daily volume by 506% to reach 15.70 million.
Oak Street Health | 510% higher than average
The US primary care network has gained 58.27% since its lowest print of $14.11 earlier this year. Oak Street Health's market cap currently stands at $8.54 billion with an average daily volume of 4.72 million shares.
Oak Street Health is having an eventful day so far, currently at 24 million and outpacing its average daily volume by 510%.
CureVac | 3.12 million traded volume so far today exceeding the daily average by 154%
CureVac is down 1.39% to $9.25, adding to its five days of losses. CureVac hit a significant low of $5.75 around a month ago, but has since recovered 63.27%. Currently, the German bio-pharma company has a market capitalization of $1.76 billion with an average daily trading volume of 2 million shares.
A blockbuster trading session for CureVac, eclipsing its average daily volume by 154% and recording 3.12 million.
— Average trading volume refers to a 21-day rolling average.