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March 08, 2023
Take a look at the following healthcare stocks that showed higher volumes than usual: Abiomed, BridgeBio Pharma, Inc., ReWalk Robotics Ltd..
Yesterday's session summary: Leading equity indices in the US declined as after dropping 1.72%, Dow Jones closed at 32,856. S&P 500 lost 1.53% and ended the session at 3,986.37.
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 a month. The company has a market cap of $17.18 billion with an average daily trading volume of 3.10 million shares.
With 15.70 million shares traded yesterday, Abiomed beat its daily average by 506% to cap off a frenetic trading day.
BridgeBio Pharma | 347% above rolling average
BridgeBio Pharma has posted further gains as part of a 3 day trend that has already seen the stock gain $5.65. It was more of the same for BridgeBio Pharma yesterday — after closing yesterday at $18.55, the biotech developer peaked at $19.95 before giving up early gains and closing at $18.55.
BridgeBio Pharma outpaced its average daily trading volume (3.74 million) with 13 million shares traded yesterday.
ReWalk Robotics | 246% higher than rolling average
Having set a significant low of 70.88 cents 2 months ago, the gait training software developer is trading 15.15% higher. On a negative trend for around a month. ReWalk Robotics's market cap is currently $47.44 million with an average daily volume of 273,531 shares.
ReWalk Robotics outpaced its average daily trading volume (273,531) with 672,036 shares traded yesterday.
— Average trading volume refers to a 21-day rolling average.
