A busy day for Horizon Therapeutics Public Limited Company, NanoVibronix, Inc., BeiGene, Ltd., being the prominent health care stocks displaying higher volumes than usual.
Yesterday's session summary: Leading equity indices in the US rose as S&P 500 closed the day at 4,080, having gained 3.09%. Nasdaq gained 4.41% and closed at 11,468.
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.
Price action was mostly bullish yesterday with some health care stocks recording abnormally high trading volumes. Here's a recap:
Horizon Therapeutics | 596% higher than rolling average Horizon Therapeutics on track to post record single day jump of $21.53 points (+27.34%)
Trading volume peaked at 15.24 million shares yesterday, thereby obliterating the daily average of 2.56 million by 596%. Horizon Therapeutics is on a 12 day uptrend, gaining a total of 35.09%. yesterday's session pointed in the same direction — after ending Tuesday's session at $78.76, Horizon Therapeutics went up to $102.71 yesterday only to fall back and close at $100.29.
The biopharmaceutical firm now trading 33.67% above its 3-month low of $58.92. The Nasdaq has been doing worse in 2022, it has been passing it by 12.69%. Horizon Therapeutics has a market cap of $22.73 billion with an average daily volume of 2.56 million shares. Horizon Therapeutics's last revenue report was $925.36 million with an EPS of $1.25.
NanoVibronix | 237% above rolling average NanoVibronix ended the session at 40.5 cents (-19%)
Yesterday's trading volume peaked at 6.51 million shares, thereby blitzing the daily average of 2.74 million by 237%. After ending Tuesday at 50 cents, NanoVibronix declined to 25 cents yesterday before closing at 40.5 cents, thereby losing 19% in total.
BeiGene | 575% above rolling average Yesterday BeiGene increased by 6.53%, ended the session at $191.61
With 1.23 million shares traded yesterday, BeiGene beat its daily average by 575% to cap off a frenetic trading day. BeiGene is on a 3 day bullish run gaining $4.89 (9.51%). yesterday's session pointed in the same direction — after closing Tuesday at $179.86, BeiGene closed at $191.61 yesterday after climbing to $202.9 and dropping back down.
A year ago the global oncology developer reached a significant high of $352 but has consequently lost 48.9% since then. So far in 2022 it has been beating the Nasdaq by 6.46%. BeiGene is currently trading with a market cap of $19.89 billion with an average daily trading volume of 214,247 shares. BeiGene expected revenue of $385.77 million with an EPS of $-4.02.
— Average trading volume refers to a 21-day rolling average.