Abiomed, UroGen Pharma Ltd., Maravai LifeSciences Holdings, Inc. and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US declined as after dropping 1.58%, S&P 500 closed at 4,071.63. Nasdaq slipped 1.98% and closed at 11,800.
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 reached high volumes. Here is an update.
Abiomed | 506% above rolling average
Yesterday's session put the brakes on the ongoing uptrend — Abiomed moves 0% to close at $381 yesterday.
Yesterday's trading volume peaked at 15.70 million shares, thereby blitzing the daily average of 3.10 million by 506%.
UroGen Pharma | 353% higher than rolling average
Trading volume peaked at 644,573 shares yesterday, thereby obliterating the daily average of 182,770 by 353%.
The past 3 months have been positive for the urothelial and specialty cancer treatment company as it added 38.49% compared to its 3-month low of $5.12. UroGen Pharma has posted further gains as part of a 4 day trend that has already seen the stock gain $1.89.
Maravai LifeSciences | 392% higher than rolling average
Trading volume peaked at 4.81 million shares yesterday, thereby obliterating the daily average of 1.23 million by 392%.
The drug therapy developer is now trading 59.74% below the significant high of $35.69 it set around 11 months ago. Trending downwards for around a month. Maravai LifeSciences's bearish run has lasted 3 days so far (-9 cents).
— Average trading volume refers to a 21-day rolling average.