| 
May 16, 2023
Take a look at the following healthcare stocks that showed higher volumes than usual: Abiomed, Sarepta Therapeutics, Inc., Signify Health, Inc..
Yesterday's session summary: Markets had an interesting day yesterday; Nasdaq closed the day at 12,365, having gained 0.66%. S&P 500 ended the session at 4,136.28 after a 0.3% gain.
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 healthcare stocks recording abnormally high trading volumes. Here's a recap:
Abiomed | 506% higher than rolling average
The stock has been trending positively for about 3 months. Abiomed has a market cap of $17.18 billion with an average daily trading volume of 3.10 million shares.
Abiomed had a compelling day yesterday, with 15.70 million shares traded helping the company surpass its average daily volume by 506%.
Sarepta | 466% above rolling average
The US biotech developer reached a significant high of $157.19 around a day ago but has lost 23.53% since then. Sarepta Therapeutics is currently trading with a market cap of $14.64 billion with an average daily volume of 1.68 million shares.
Sarepta Therapeutics outpaced its average daily trading volume (1.68 million) with 7.82 million shares traded yesterday.
Signify Health | 261% higher than rolling average
Yesterday's trading volume peaked at 9.63 million shares, thereby blitzing the daily average of 3.69 million by 261%.
Signify Health hit a significant low of $11.19 around 11 months ago, but has since recovered 172.3%. The stock has been trending positively for about 10 months. With around a month of flat trade under its belt,
— Average trading volume refers to a 21-day rolling average.
