Insider Buying: Lycia Therapeutics (NASDAQ:LYCA) Major Shareholder Purchases $1,371,649.49 in Stock

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par bought 52,939 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was bought at an average price of $25.91 per share, for a total transaction of $1,371,649.49. Following the completion of the purchase, the insider directly owned 52,939 shares in the company, valued at approximately $1,371,649.49. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, October 27th, Venrock Healthcare Capital Par purchased 39,796 shares of Lycia Therapeutics stock. The shares were bought at an average cost of $26.62 per share, with a total value of $1,059,369.52.
• On Monday, October 26th, Venrock Healthcare Capital Par purchased 1,952,705 shares of Lycia Therapeutics stock. The shares were bought at an average cost of $18.04 per share, with a total value of $35,226,798.20.

Lycia Therapeutics Trading Down 9.5%

Shares of NASDAQ LYCA traded down $2.74 during trading hours on Tuesday, reaching $26.11. The stock had a trading volume of 426,754 shares, compared to its average volume of 696,224. Lycia Therapeutics, Inc. has a 52-week low of $22.19 and a 52-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.