Insider Buying: Lycia Therapeutics (NASDAQ:LYCA) Major Shareholder Acquires $223,819.75 in Stock

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par purchased 8,305 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was bought at an average price of $26.95 per share, for a total transaction of $223,819.75. Following the completion of the purchase, the insider directly owned 6,858,542 shares of the company’s stock, valued at $184,837,706.90. The trade was a 0.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 Friday, October 30th, Venrock Healthcare Capital Par purchased 9,004 shares of Lycia Therapeutics stock. The stock was purchased at an average cost of $26.28 per share, with a total value of $236,625.12.
• On Thursday, October 29th, Venrock Healthcare Capital Par purchased 1,000 shares of Lycia Therapeutics stock. The shares were purchased at an average cost of $26.33 per share, with a total value of $26,330.00.
• On Wednesday, October 28th, Venrock Healthcare Capital Par bought 15,000 shares of Lycia Therapeutics stock. The shares were purchased at an average cost of $25.45 per share, for a total transaction of $381,750.00.
• On Tuesday, October 27th, Venrock Healthcare Capital Par purchased 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 Monday, October 26th, Venrock Healthcare Capital Par purchased 1,952,705 shares of Lycia Therapeutics stock. The shares were purchased at an average cost of $18.04 per share, with a total value of $35,226,798.20.
• On Friday, October 23rd, Venrock Healthcare Capital Par acquired 52,939 shares of Lycia Therapeutics stock. The stock was purchased at an average price of $25.91 per share, for a total transaction of $1,371,649.49.

Lycia Therapeutics Stock Performance

LYCA opened at $30.50 on Friday. Lycia Therapeutics, Inc. has a 12 month low of $22.19 and a 12 month high of $36.49.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Lycia Therapeutics to a “hold” rating in a report on Saturday, October 31st.

About Lycia Therapeutics

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.