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

Lycia Therapeutics (NASDAQ:LYCA) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Lycia Therapeutics Stock Performance

Shares of LYCA opened at $26.40 on Friday. Lycia Therapeutics has a 1 year low of $22.19 and a 1 year high of $36.49.

Insider Buying and Selling at Lycia Therapeutics

In other news, major shareholder Venrock Healthcare Capital Par bought 9,004 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were bought at an average cost of $26.28 per share, for a total transaction of $236,625.12. Following the completion of the transaction, the insider owned 6,850,237 shares in the company, valued at $180,024,228.36. This trade represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders purchased 2,070,444 shares of company stock valued at $38,302,522.

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.