Abiomed, UroGen Pharma Ltd., Guardant Health, Inc. and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Markets completed a mixed session Friday while after dropping 0.58%, Nasdaq closed at 11,800. Dow Jones gained 0.39% and closed at 33,827.
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 Friday, several healthcare stocks were actively traded. Here's an update:
Abiomed | 506% higher than rolling average
The stock has been trending positively for about a month. The company's market cap currently stands at $17.18 billion with an average daily trading volume of 3.10 million shares.
Friday's trading volume peaked at 15.70 million shares, thereby blitzing the daily average of 3.10 million by 506%.
UroGen Pharma | 211% higher than rolling average
The biotechnology company has gained 20.18% since its lowest print of $5.12 earlier this year. UroGen Pharma's market cap currently stands at $235.98 million with an average daily volume of 114,447 shares.
UroGen Pharma had a compelling day Friday, with 241,749 shares traded helping the company surpass its average daily volume by 211%.
Guardant Health | 259% higher than rolling average
Guardant Health outpaced its average daily trading volume (1.80 million) with 4.65 million shares traded Friday.
The cancer treatment developer is now trading 40.74% below its 3-month high of $77.35. After a 5 day of trading sideways
Guardant Health is scheduled to announce earnings results Thursday. The consensus EPS estimate is -1.4 and the consensus revenue estimate is $123.93 million.
— Average trading volume refers to a 21-day rolling average.