Lycia Therapeutics (NASDAQ:LYCA) Major Shareholder Buys 1,952,705 Shares of Stock

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par purchased 1,952,705 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average price of $18.04 per share, with a total value of $35,226,798.20. Following the transaction, the insider directly owned 6,785,437 shares in the company, valued at $122,409,283.48. This trade represents a 40.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 bought 39,796 shares of Lycia Therapeutics stock. The stock was acquired at an average price of $26.62 per share, for a total transaction of $1,059,369.52.
• On Friday, October 23rd, Venrock Healthcare Capital Par purchased 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 Price Performance

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