Lycia Therapeutics (NASDAQ:LYCA) Major Shareholder Buys $35,226,798.20 in Stock

Lycia Therapeutics, Inc. (NASDAQ:LYCA) major shareholder Venrock Healthcare Capital Par acquired 1,952,705 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were bought at an average cost of $18.04 per share, for a total transaction of $35,226,798.20. Following the completion of the acquisition, the insider owned 6,785,437 shares of the company’s stock, valued at approximately $122,409,283.48. This represents a 40.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, October 27th, Venrock Healthcare Capital Par acquired 39,796 shares of Lycia Therapeutics stock. The shares were acquired at an average cost of $26.62 per share, with a total value of $1,059,369.52.
• On Friday, October 23rd, Venrock Healthcare Capital Par bought 52,939 shares of Lycia Therapeutics stock. The stock was bought at an average price of $25.91 per share, with a total value of $1,371,649.49.

Lycia Therapeutics Trading Up 10.7%

Shares of Lycia Therapeutics stock opened at $27.73 on Friday. Lycia Therapeutics, Inc. has a 52 week low of $22.19 and a 52 week 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.