Insider Buying: Lycia Therapeutics (NASDAQ:LYCA) Major Shareholder Acquires $1,059,369.52 in Stock

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par acquired 39,796 shares of Lycia Therapeutics stock in a transaction on Tuesday, October 27th. The shares were purchased at an average cost of $26.62 per share, with a total value of $1,059,369.52. Following the completion of the acquisition, the insider owned 6,825,233 shares of the company’s stock, valued at $181,687,702.46. This trade represents a 0.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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, with a total value of $35,226,798.20.
• On Friday, October 23rd, Venrock Healthcare Capital Par bought 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 Trading Up 10.7%

Shares of LYCA opened at $27.73 on Friday. Lycia Therapeutics, Inc. has a 1 year low of $22.19 and a 1 year high of $36.49.

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.