A busy day for Nektar Therapeutics, Intellia Therapeutics, Inc., GoodRx Holdings, Inc., being the prominent health care stocks displaying higher volumes than usual.
Here's an update with information from the last trading session: Markets did not have a clear cut direction — Dow Jones closed at 34,400, a 0.56% change. Nasdaq closed at 11,482 after a flat day.
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.
While trading was mostly sideways yesterday, several health care stocks were actively traded. Here's an update:
Nektar Therapeutics | 738% above rolling average Nektar Therapeutics breaks a 14 day downtrend, ascends to $2.88
Trading volume peaked at 14.78 million shares yesterday, thereby obliterating the daily average of 2 million by 738%. Nektar Therapeutics is in the midst of a 14 day downtrend. a possible change of direction spotted from yesterday; an influx of buyers helped the US biopharmaceutical company to end the session higher around $2.88, while establishing a $2.73 to $3 session range yesterday.
Intellia Therapeutics | 541% higher than rolling average Intellia Therapeutics bounced 35 cents from 5 months low and closed at $45.8
With 5.46 million shares traded yesterday, Intellia Therapeutics beat its daily average by 541% to cap off a frenetic trading day. Early in yesterday's session, Intellia Therapeutics dropped to $45.45 from $51.46 at the end of Wednesday, before closing at $45.8. During the session, it lost 11%.
GoodRx | 257% higher than rolling average GoodRx levels up 18.35% in yesterday's session; traders eye opening bell in 3 hours time
Yesterday's trading volume peaked at 6 million shares, thereby blitzing the daily average of 2.35 million by 257%. After closing yesterday at $5.16, the US healthcare company peaked at $5.29 before giving up early gains and closing at $5.16.
The US healthcare company reached a significant high of $41.61 around 11 months ago but has lost 89.52% since then. So far in 2022, it has been under-performing the Nasdaq by 48.29%. GoodRx's market cap is currently $425.48 million with an average daily trading volume of 2.35 million shares.
— Average trading volume refers to a 21-day rolling average.