Coya Therapeutics, Inc. (COYA) AI Stock Analysis
COYA AI stock analysis summary
AI ResearchCoya Therapeutics, Inc. (COYA) is a clinical-stage biotechnology company developing therapies designed to modulate regulatory T cells. Over the trailing twelve months, the company generated $8.0M in revenue alongside an operating margin of -2890.4% and continuing net losses. As of June 30, 2026, Coya held $43.2M in cash and short-term investments with a current ratio of 13.40.
- Market cap
- $99.7M
- Revenue (TTM)
- $8.0M
- P/E
- —
- 1Y return
- -32.5% S&P 500 16.8%
- Avg. target
- $15.21 258.0% vs last close
Bull case
- All 7 covering analysts rate the company a Strong Buy, with an average price target of $15.21 that implies 258.0% upside over the last close of $4.25.
- Balance sheet liquidity is supported by $43.2M in cash and short-term investments as of June 30, 2026, contributing to a high current ratio of 13.40.
- Quarterly revenue grew 49.0% year-over-year in the latest quarter ended June 30, 2026, after FY2025 revenue surged 123.6% to $7.9M.
Bear case
- The company remains deeply unprofitable, reporting a net income of -$21.2M in FY2025 and a TTM profit margin of -270.2%.
- Substantial cash burn is evident from -$10.7M in free cash flow in FY2025, which has contributed to a 255.3% increase in share count over 5 years.
- Analyst consensus anticipates FY2026 revenue will drop to $1.0M from $7.9M reported in FY2025, alongside projected FY2026 EPS of -$1.37.
What Coya Therapeutics does
Founded in 2020 and based in Houston, Texas, Coya Therapeutics, Inc. is a clinical-stage biotechnology company advancing proprietary therapies to modulate regulatory T cells (Tregs). Its pipeline spans Treg-enhancing biologics, Treg-derived exosomes, and autologous Treg cell therapy. Lead candidate COYA 101, an autologous Treg cell therapy, has completed a Phase 2a trial for Amyotrophic Lateral Sclerosis (ALS). In IND-enabling studies, Coya is developing COYA 301 for Frontotemporal Dementia and COYA 302 for neurodegenerative and autoimmune conditions. It is also advancing preclinical candidate COYA 201 and discovery-stage candidate COYA 206 for neurodegenerative, autoimmune, and metabolic diseases.
Growth and profitability
Revenue rose from $6.0M in FY2023 to $7.9M in FY2025, delivering a 2-year revenue CAGR of 15.1%. While revenue fell 40.8% in FY2024 to $3.6M, it rebounded by 123.6% in FY2025. Gross margin expanded to 99.7% in FY2025 from -233.9% in FY2024 and 8.3% in FY2023. Operating losses widened as R&D expense increased from $6.0M in FY2023 to $16.7M in FY2025. Net income was -$8.0M in FY2023, -$14.9M in FY2024, and -$21.2M in FY2025, with EPS at -$1.27. In the latest quarter ended June 30, 2026, quarterly revenue grew 49.0% year-over-year, while TTM revenue reached $8.0M with a profit margin of -270.2%.
Balance sheet and cash flow
As of June 30, 2026, Coya Therapeutics held $43.2M in cash and short-term investments out of $47.3M in total assets, resulting in a current ratio of 13.40. Shareholders' equity stood at $43.3M. The company relies on capital markets to fund ongoing clinical development, as operating cash flow was -$10.7M and free cash flow was -$10.7M in FY2025. Over a 5-year period, its share count increased by 255.3%.
Valuation and performance
At a last close of $4.25 on October 16, 2026, Coya Therapeutics has a market capitalization of $99.7M and an enterprise value of $75.5M. The stock trades at a price-to-sales multiple of 12.4x and an enterprise value-to-revenue ratio of 9.4x, well above the median of its US-listed Healthcare peers of 4.1x. Its price-to-book ratio is 2.7x. Over the past year, COYA shares declined 32.5% and dropped 26.7% year-to-date, trailing the S&P 500 (SPY) return of 16.8% over the same 1-year period.
What analysts expect
Wall Street coverage consists of 7 Strong Buy ratings and no Buy, Hold, Sell, or Strong Sell ratings. The mean price target is $15.21, representing a 258.0% premium over the last close of $4.25. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$1.37 and revenue of $1.0M. For the following fiscal year, 2 analysts project revenue of $5.0M and an EPS of -$1.92. Coya beat EPS expectations in 3 of the last 4 quarters, with its next earnings date scheduled for November 11, 2026.
Key risks and what to watch
- Ongoing clinical trials drove R&D expenses to $16.7M in FY2025, threatening rapid depletion of the $43.2M cash balance without external financing.
- The stock carries a high valuation at 12.4x sales compared to the 4.1x median of its US-listed Healthcare peers, leaving it vulnerable to multiple contraction.
- Stock performance has lagged broader markets significantly, falling 32.5% over the past year while the S&P 500 gained 16.8%.
- Dilution risk remains elevated given the 255.3% 5-year increase in share count to fund operating cash outflows of -$10.7M in FY2025.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this COYA AI stock analysis
This page is an AI-written research summary of Coya Therapeutics, Inc. (COYA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: COYA income statement, COYA balance sheet, COYA key metrics, COYA analyst forecast, COYA chart. See the COYA stock overview for the latest quote and news.
COYA AI stock analysis FAQ
What clinical trials is Coya Therapeutics currently running?
Coya has completed a Phase 2a trial for its lead product candidate COYA 101 in ALS and is advancing IND-enabling studies for COYA 301 and COYA 302, as well as preclinical work on COYA 201.
How much cash does Coya Therapeutics have?
As of June 30, 2026, Coya held $43.2M in cash and short-term investments, with total assets of $47.3M and a current ratio of 13.40.
Does Coya Therapeutics pay a dividend?
No, Coya Therapeutics does not pay a dividend as it is a clinical-stage biotechnology company that reinvests its resources into research and development.
When does Coya Therapeutics report earnings next?
The company's next earnings date is scheduled for November 11, 2026.