Albireo Pharma, Inc. ALBO shares are trading higher by $5.25 (18 percent) at $31.25 in Monday's session. This marks the seventh consecutive day of gains, more than doubling from its November 10 close ($14.70).
It should be noted the rally has taken place on extremely light volume as the issue hasn't traded over 100,000 shares in a session since October 19. In fact, its 20-day average volume is 35,000. It's on track to far exceed that as 127,000 shares have already changed hands with just over five hours remaining in the session.
After a higher open, it retreated but found support well ahead of the top of Friday's range ($26.36), only reaching $29.00 before resuming its move higher. It has continued to make new highs for the day, with the current one standing at $31.30.
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