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April 25, 2023
Following today's heightened trading volumes, Abiomed, UroGen Pharma Ltd., Maravai LifeSciences Holdings, Inc. were the standout stocks.
A recap of today's session: Leading equity indices in the US declined as S&P 500 lost 1.58% and ended the session at 4,071.63. Nasdaq shed 1.98% and closed at 11,800.
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 today, some healthcare stocks reached high volumes. Here is an update.
Abiomed | 506% higher than rolling average
Abiomed outpaced its average daily trading volume (3.10 million) with 15.70 million shares traded today.
The stock has been trending positively for about 3 months.
The company trades at $381 ahead of quarterly performance report which is scheduled to be released tomorrow.
UroGen Pharma | 418% higher than rolling average
The past 3 months have been positive for the urothelial and specialty cancer treatment company as it added 44.38% compared to its 3-month low of $5.12. UroGen Pharma has a market cap of $272.14 million with an average daily volume of 154,265 shares.
Trading volume was 644,573 shares today — beating the daily average by a mammoth 418%.
Maravai LifeSciences | 465% above rolling average
Maravai LifeSciences had a compelling day today, with 4.81 million shares traded helping the company surpass its average daily volume by 465%.
Having set a significant high of $35.69 11 months ago, the vaccine research provider is trading 59.74% lower. Pointing downwards for around a month.
— Average trading volume refers to a 21-day rolling average.
