Lycia Therapeutics (NASDAQ:LYCA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lycia Therapeutics (NASDAQ:LYCA) to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Lycia Therapeutics Stock Performance

Lycia Therapeutics stock opened at $27.18 on Friday. Lycia Therapeutics has a one year low of $22.19 and a one year high of $36.49.

Insider Activity

In other news, major shareholder Venrock Healthcare Capital Par bought 9,004 shares of Lycia Therapeutics stock in a transaction dated Friday, October 30th. The shares were acquired at an average cost of $26.28 per share, with a total value of $236,625.12. Following the completion of the transaction, the insider owned 6,850,237 shares in the company, valued at approximately $180,024,228.36. This trade represents a 0.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 2,070,444 shares of company stock worth $38,302,522 in the last 90 days.

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.