Lycia Therapeutics (NASDAQ:LYCA) Major Shareholder Purchases $223,819.75 in Stock

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par purchased 8,305 shares of Lycia Therapeutics stock in a transaction dated Monday, November 2nd. The shares were bought at an average price of $26.95 per share, with a total value of $223,819.75. Following the completion of the transaction, the insider owned 6,858,542 shares in the company, valued at approximately $184,837,706.90. This trade represents a 0.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 30th, Venrock Healthcare Capital Par acquired 9,004 shares of Lycia Therapeutics stock. The shares were 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 acquired 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 price of $25.45 per share, for a total transaction of $381,750.00.
• On Tuesday, October 27th, Venrock Healthcare Capital Par bought 39,796 shares of Lycia Therapeutics stock. The stock was purchased at an average cost of $26.62 per share, for a total transaction of $1,059,369.52.
• On Monday, October 26th, Venrock Healthcare Capital Par bought 1,952,705 shares of Lycia Therapeutics stock. The stock was 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 purchased 52,939 shares of Lycia Therapeutics stock. The stock was purchased at an average price of $25.91 per share, with a total value of $1,371,649.49.

Lycia Therapeutics Stock Performance

Shares of LYCA stock traded up $1.32 during mid-day trading on Wednesday, reaching $28.92. The stock had a trading volume of 302,655 shares, compared to its average volume of 371,219. 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 research note on Saturday.

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.