Insider Buying: Lycia Therapeutics (NASDAQ:LYCA) Major Shareholder Acquires 39,796 Shares of Company Stock

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par acquired 39,796 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was purchased at an average cost of $26.62 per share, with a total value of $1,059,369.52. Following the acquisition, the insider directly owned 6,825,233 shares of the company’s stock, valued at $181,687,702.46. This represents a 0.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Venrock Healthcare Capital Par also recently made the following trade(s):

• On Monday, October 26th, Venrock Healthcare Capital Par bought 1,952,705 shares of Lycia Therapeutics stock. The shares were purchased at an average cost of $18.04 per share, for a total transaction of $35,226,798.20.
• On Friday, October 23rd, Venrock Healthcare Capital Par bought 52,939 shares of Lycia Therapeutics stock. The shares were acquired at an average price of $25.91 per share, for a total transaction of $1,371,649.49.

Lycia Therapeutics Stock Performance

Shares of NASDAQ:LYCA traded down $2.74 during trading on Tuesday, reaching $26.11. 426,754 shares of the company’s stock traded hands, compared to its average volume of 696,224. Lycia Therapeutics, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $36.49.

Lycia Therapeutics, Inc is a biotechnology company developing medicines designed to eliminate disease-causing proteins from cells. The company’s approach is based on lysosome-targeting chimeras, or LYTACs, which are engineered molecules intended to direct extracellular and cell-surface proteins to lysosomes for degradation.

Lycia’s technology is intended to address disease targets that may be difficult to inhibit with conventional drugs, including proteins located outside cells or embedded in cell membranes.