Lycia Therapeutics (NASDAQ:LYCA) Stock: Insider Venrock Healthcare Capital Par Buys 1,952,705 Shares

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par purchased 1,952,705 shares of Lycia Therapeutics stock in a transaction on Monday, October 26th. The shares were purchased at an average cost of $18.04 per share, with a total value of $35,226,798.20. Following the transaction, the insider owned 6,785,437 shares in the company, valued at approximately $122,409,283.48. The trade was a 40.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Tuesday, October 27th, Venrock Healthcare Capital Par acquired 39,796 shares of Lycia Therapeutics stock. The stock was acquired at an average cost 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 cost of $25.91 per share, for a total transaction of $1,371,649.49.

Lycia Therapeutics Trading Down 9.5%

Shares of Lycia Therapeutics stock traded down $2.74 on Tuesday, reaching $26.11. 426,754 shares of the company were exchanged, 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.