Coya Therapeutics

COYA · NASDAQ

$4.21+$0.01 (+0.24%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $4.20

COYA analyst rating

BuyConsensus of 5 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy5
Hold0
Underperform0
Sell0

12-month price target · 8 analysts

Average $15.47 (+267.5% upside)

Low: $12.12
Now: $4.21
High: $18.90

Upgrades and downgrades

The latest rating actions, newest first

COYA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Sep 15, 2026	Maintains	Buy	$16.00	30%
Roth Capital	Aug 24, 2026	Maintains	Buy	$12.00	44%
Chardan Capital	Aug 12, 2026	Maintains	Buy	$14.00	38%
Chardan Capital	Jun 12, 2026	Maintains	Buy	$14.00	38%
Roth Capital	Jun 5, 2026	Initiates	Buy	$12.00	44%
D. Boral Capital	Apr 10, 2026	Maintains	Buy	$15.00	29%
HC Wainwright & Co.	Mar 23, 2026	Maintains	Buy	$18.00	43%
D. Boral Capital	Mar 19, 2026	Maintains	Buy	$15.00	29%
Chardan Capital	Mar 16, 2026	Maintains	Buy	$14.00	38%
D. Boral Capital	Mar 16, 2026	Maintains	Buy	$15.00	29%

The case for and against

Updated Oct 21, 2026

Bull case

Coya Therapeutics is supported by a compelling Treg-modulation thesis that is mechanistically straightforward, backed by validated biologics, and increasingly validated by data showing deep immunomodulation, positive biomarkers, and safety across ALS and FTD. The FDA’s Fast Track designation for COYA-302 in ALS, combined with advancing ALSTARS milestones and top-line data expected in 1Q27, strengthens the case that the program could deliver clinically meaningful ALSFRS-R and mortality benefit in a high-unmet-need setting. Financially, the company’s cash runway guidance into 2H27, with $43.2M at June 30, reduces near-term funding risk while its pipeline breadth, including COYA-303, adds additional upside optionality.

Bear case

Coya Therapeutics is a clinical-stage biotech with no revenue-generating products, so its valuation depends heavily on unproven pipeline success while operating expenses and cash burn continue to rise, including $7.3 million in 2Q26 and a net loss of $6.6 million, or $(0.28) per share. The company’s R&D spending increased 37% to $5.0 million due largely to the COYA 302 ALS phase II trial, yet the text highlights substantial clinical, regulatory, reimbursement, and commercialization risk, any of which could impair program value. It also faces meaningful dilution risk because management expects future debt or equity financing, while intense competition and uncertain patent protection could leave its Treg-based therapies vulnerable even if development advances.

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