| 
June 24, 2023
A busy day for Abiomed, UroGen Pharma Ltd., ICON Public Limited Company, being the prominent healthcare stocks displaying higher volumes than usual.
A recap of yesterday's session: Leading equity indices in the US declined as S&P 500 shed 0.77% and closed at 4,348.33. After dropping 1%, Nasdaq closed at 13,500.
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
The stock has been trending positively for about 5 months. Abiomed's market cap is currently $17.18 billion with an average daily trading volume of 3.10 million shares.
Abiomed outpaced its average daily trading volume (3.10 million) with 15.70 million shares traded yesterday.
UroGen Pharma | 829% higher than rolling average
With 2.11 million shares traded yesterday, UroGen Pharma beat its daily average by 829% to cap off a frenetic trading day.
A month ago the urothelial and specialty cancer treatment company reached a significant high of $14.29 but has consequently lost 16.59% since then. UroGen Pharma's bearish run has lasted 7 days so far (-57 cents).
ICON | 546% higher than rolling average
ICON outpaced its average daily trading volume (812,493) with 4.43 million shares traded yesterday.
ICON hit a significant low of $173.9 around 8 months ago, but has since recovered 30.71%. The stock has been trending positively for about a month. Having fallen $6.81 in 5 days,
— Average trading volume refers to a 21-day rolling average.
