Tearsheet

Coya Therapeutics (COYA)


Market Price (3/14/2026): $4.62 | Market Cap: $77.3 Mil
Sector: Health Care | Industry: Biotechnology

Coya Therapeutics (COYA)


Market Price (3/14/2026): $4.62
Market Cap: $77.3 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -37%
Weak multi-year price returns
2Y Excs Rtn is -84%, 3Y Excs Rtn is -73%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -517%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -92%
  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -58%
2 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, and Targeted Therapies.
  Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 100%
3   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -304%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -304%
4   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -28%
5   Key risks
COYA key risks include [1] specific regulatory setbacks, Show more.
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -37%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -92%
2 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, and Targeted Therapies.
3 Weak multi-year price returns
2Y Excs Rtn is -84%, 3Y Excs Rtn is -73%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -517%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -58%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 100%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -304%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -304%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -28%
9 Key risks
COYA key risks include [1] specific regulatory setbacks, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Coya Therapeutics (COYA) stock has lost about 30% since 11/30/2025 because of the following key factors:

1. Shareholder dilution from capital raises negatively impacted stock value. The company executed a private placement on January 30, 2026, issuing 2,522,727 shares of common stock at $4.40 per share, which generated approximately $11.1 million in gross proceeds but also contributed to substantial shareholder dilution. Overall, Coya Therapeutics experienced a 40.3% increase in total shares outstanding over the past year.

2. Persistent financial losses and a negative earnings outlook contributed to investor apprehension. Coya Therapeutics reported an earnings per share (EPS) of -$0.10 for Q3 2025, missing analyst consensus estimates by $0.12. Analysts project continued unprofitability, with an expected EPS loss of ($0.08) for Q4 2025 and a further decrease in earnings from ($1.15) to ($1.47) per share in the upcoming year.

Show more

Stock Movement Drivers

Fundamental Drivers

The -30.4% change in COYA stock from 11/30/2025 to 3/13/2026 was primarily driven by a -30.4% change in the company's P/S Multiple.
(LTM values as of)113020253132026Change
Stock Price ($)6.514.53-30.4%
Change Contribution By: 
Total Revenues ($ Mil)440.0%
P/S Multiple27.319.0-30.4%
Shares Outstanding (Mil)17170.0%
Cumulative Contribution-30.4%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/13/2026
ReturnCorrelation
COYA-30.4% 
Market (SPY)-3.1%21.3%
Sector (XLV)-5.0%19.3%

Fundamental Drivers

The -30.9% change in COYA stock from 8/31/2025 to 3/13/2026 was primarily driven by a -92.7% change in the company's P/S Multiple.
(LTM values as of)83120253132026Change
Stock Price ($)6.564.53-30.9%
Change Contribution By: 
Total Revenues ($ Mil)04841.7%
P/S Multiple259.119.0-92.7%
Shares Outstanding (Mil)17170.0%
Cumulative Contribution-30.9%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/13/2026
ReturnCorrelation
COYA-30.9% 
Market (SPY)3.0%12.1%
Sector (XLV)9.5%20.6%

Fundamental Drivers

The -36.0% change in COYA stock from 2/28/2025 to 3/13/2026 was primarily driven by a -58.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820253132026Change
Stock Price ($)7.084.53-36.0%
Change Contribution By: 
Total Revenues ($ Mil)104-58.3%
P/S Multiple11.319.068.5%
Shares Outstanding (Mil)1517-9.0%
Cumulative Contribution-36.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/13/2026
ReturnCorrelation
COYA-36.0% 
Market (SPY)12.4%26.7%
Sector (XLV)1.9%32.1%

Fundamental Drivers

The 10.8% change in COYA stock from 2/28/2023 to 3/13/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820233132026Change
Stock Price ($)4.094.5310.8%
Change Contribution By: 
Total Revenues ($ Mil)40.0%
P/S Multiple19.00.0%
Shares Outstanding (Mil)717-60.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/13/2026
ReturnCorrelation
COYA10.8% 
Market (SPY)73.4%19.4%
Sector (XLV)23.3%20.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
COYA Return-4%56%-23%1%-15%8%
Peers Return-12%52%16%-74%73%25%-12%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
COYA Win Rate-100%42%42%67%33% 
Peers Win Rate53%42%44%29%57%67% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
COYA Max Drawdown-0%-30%-35%-14%-31% 
Peers Max Drawdown-28%-59%-42%-78%-41%-9% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BIIB, AMLX, ALEC, KYTX, CABA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventCOYAS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-43.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven76.7%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven58 days464 days

Compare to BIIB, AMLX, ALEC, KYTX, CABA

In The Past

Coya Therapeutics's stock fell -43.4% during the 2022 Inflation Shock from a high on 5/16/2023. A -43.4% loss requires a 76.7% gain to breakeven.

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About Coya Therapeutics (COYA)

Coya Therapeutics, Inc., a clinical-stage biotechnology company, develops proprietary medicinal products to modulate the function of regulatory T cells (Tregs). The company's product candidate pipeline is based on therapeutic modalities, such as Treg-enhancing biologics, Treg-derived exosomes, and autologous Treg cell therapy. It is developing COYA 101, an autologous regulatory T-cell product candidate that has completed Phase 2a clinical trial for use in the treatment of Amyotrophic Lateral Sclerosis. The company's product candidates in IND-enabling studies include COYA 301, a Treg-enhancing biologic for use in the treatment of Frontotemporal Dementia; and COYA 302, a biologic combination for subcutaneous and/or intravenous administration intended to enhance Treg function while depleting T effector function and activated macrophages for use in the treatment of neurodegenerative and autoimmune diseases. It is also developing COYA 201, an allogeneic Treg exosome product candidate that is in preclinical stage for use in the treatment of neurodegenerative, autoimmune, and metabolic diseases; and COYA 206, an antigen directed Treg-derived exosome product candidate, which is in discovery stage. The company was incorporated in 2020 and is headquartered in Houston, Texas.

AI Analysis | Feedback

Like a Kite Pharma, but developing regulatory T-cell (Treg) therapies for neurodegenerative diseases like ALS, rather than CAR-T for cancer.

Imagine an immunology pioneer like Genentech, but exclusively dedicated to developing medicines that modulate regulatory T cells for conditions like dementia and autoimmune disorders.

Think of a specialized biotech like Vertex Pharmaceuticals, but instead of targeting genetic diseases, COYA focuses on precisely tuning regulatory T cells for neurodegenerative and autoimmune conditions.

AI Analysis | Feedback

  • COYA 101: An autologous regulatory T-cell product candidate for treating Amyotrophic Lateral Sclerosis.
  • COYA 301: A Treg-enhancing biologic for treating Frontotemporal Dementia.
  • COYA 302: A biologic combination designed to enhance Treg function and deplete T effector cells for neurodegenerative and autoimmune diseases.
  • COYA 201: An allogeneic Treg exosome product candidate for neurodegenerative, autoimmune, and metabolic diseases.
  • COYA 206: An antigen-directed Treg-derived exosome product candidate in discovery stage.

AI Analysis | Feedback

Coya Therapeutics, Inc. (COYA) is a clinical-stage biotechnology company focused on developing medicinal products. As a clinical-stage company, its product candidates are currently in various stages of development, including clinical trials (Phase 2a), IND-enabling studies, preclinical stages, and discovery stages. At this stage, Coya Therapeutics does not have commercialized products for sale and therefore does not have major customers in the traditional sense of companies or individuals purchasing its products. Its operations are centered around research and development, and conducting clinical trials. Future customers, if its products are successfully developed and approved, would likely include healthcare providers, hospitals, and potentially pharmaceutical partners for commercialization.

AI Analysis | Feedback

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Arun Swaminathan, Ph.D. Chief Executive Officer

Dr. Arun Swaminathan became Coya Therapeutics' Chief Executive Officer on November 1, 2024, after joining the company as Chief Business Officer in April 2023 and being appointed to the Board in August 2024. He brings over 20 years of healthcare business executive experience with a strong focus on corporate and business development, strategy, and finance. Previously, Dr. Swaminathan co-founded and served as CEO of Lynkogen Inc., a pre-clinical stage biotech. He also held the role of Chief Business Officer for Actinium Pharmaceuticals, where he spearheaded a $452 million deal, and for Alteogen, where he led deals totaling over $6 billion. He began his career in clinical development and commercial roles at BristolMyers Squibb and Covance.

David S. Snyder, M.B.A. Chief Financial Officer and Chief Operating Officer

David S. Snyder joined Coya Therapeutics in March 2022 as Chief Financial Officer and Chief Operating Officer, bringing over 25 years of experience as CFO for public and high-growth companies. He has assisted four life science companies in preparing for public company operations. Prior to Coya, he served as CFO for DisperSol Technologies, LLC and its wholly-owned subsidiary Austhera BioSciences, Inc. His past CFO roles include Exicure, Inc. (2014-2020), Cellular Dynamics, Inc. (2008-2014), and Roche NimbleGen (2007-2008). Earlier in his career, Mr. Snyder was CFO for companies in the real estate, software, and manufacturing sectors, and worked with financial and real estate investor Sam Zell.

Howard Berman, Ph.D. Executive Chairman

Dr. Howard Berman co-founded Coya Therapeutics in 2020 and served as its Chief Executive Officer from inception until October 30, 2024, when he transitioned to his current role as Executive Chairman. He successfully guided Coya through its IPO in 2023. Dr. Berman is also the founder of Imaware, Inc., a company he successfully led through a strategic M&A acquisition in 2024. With over 25 years of leadership experience across both public and private life sciences companies, he previously held management and clinical development positions at leading global biopharmaceutical companies such as Novartis, Eli Lilly, AbbVie, and Morphosys, where he contributed to the development and launch of numerous drugs. He has raised over $100 million in venture, public, and non-dilutive funding.

Fred Grossman, Ph.D. President and Chief Medical Officer

Dr. Fred Grossman was appointed President and Chief Medical Officer of Coya Therapeutics in July 2023. He possesses extensive experience, having held executive positions at prominent pharmaceutical companies including Eli Lilly, Johnson & Johnson, Bristol Myers Squibb, Sunovion, Glenmark Pharmaceuticals, and Mesoblast Inc. At Glenmark Pharmaceuticals, he oversaw the development of the entire pipeline, encompassing generics, complex generics, and next-generation biologics. His experience also includes serving as Chief Medical Officer at Mesoblast, Inc., where he focused on developing allogeneic cellular therapies for inflammatory diseases.

AI Analysis | Feedback

Coya Therapeutics (COYA), a clinical-stage biotechnology company, faces several key risks inherent to its stage of development and its focus on novel therapeutic modalities. The most significant risks include:
  1. Clinical Trial Failure and Drug Development Risk: As a clinical-stage company, Coya Therapeutics' success is heavily dependent on the successful outcome of its ongoing and planned clinical trials. Setbacks, delays, or outright failures in these trials due to lack of efficacy, safety concerns, or other issues could severely impact the company. Its product candidates, such as COYA 101, COYA 301, COYA 302, COYA 201, and COYA 206, are in various stages of development, from discovery to Phase 2a, meaning the path to commercialization is long and uncertain. The ability of these candidates to achieve applicable endpoints in clinical trials and demonstrate a favorable safety profile is critical for their advancement.
  2. Regulatory Approval Risk: Even with successful clinical trial results, Coya Therapeutics must obtain regulatory approval from agencies such as the FDA to market its products. There is no guarantee that regulatory bodies will approve the company's product candidates, a fundamental hurdle for any clinical-stage biopharmaceutical company with no products approved for commercial sale. The timing and eventual outcome of these regulatory reviews are significant uncertainties.
  3. Funding and Capital Risk: Developing novel therapeutics is a capital-intensive process. Coya Therapeutics has reported net losses and an accumulated deficit, indicating an ongoing need for substantial capital to fund its research and development activities and clinical trials. The company's ability to raise additional capital, potentially through equity offerings, is crucial for its continued operations and advancement of its pipeline, and failure to do so could jeopardize its business.

AI Analysis | Feedback

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AI Analysis | Feedback

Addressable Markets for Coya Therapeutics' Main Products and Services

Coya Therapeutics, Inc. is developing therapeutic modalities targeting several significant disease areas. The addressable markets for their main product candidates are outlined below:
  • COYA 101 (Amyotrophic Lateral Sclerosis - ALS): The global Amyotrophic Lateral Sclerosis (ALS) market was valued at approximately USD 0.79 billion in 2024 and is projected to reach USD 1.38 billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 5.2%. In North America, the ALS market is expected to hold the highest share, partly due to advanced healthcare infrastructure and increasing research and development activities. Another report indicates the global ALS market size was USD 835.8 million in 2025 and is projected to reach USD 1496.9 million by 2035. The market size for ALS in the United States was USD 800 million in 2024.
  • COYA 301 (Frontotemporal Dementia - FTD): The market for Frontotemporal Dementia (FTD) across the 7 major markets (US, EU4 (Germany, Spain, Italy, and France), UK, and Japan) was valued at USD 142.8 million in 2024. This market is expected to reach USD 688.2 million by 2035, exhibiting a CAGR of 15.37% during the period 2025-2035. The United States accounted for the highest market size within the 7MM for FTD, with approximately USD 68 million in 2023. The global frontotemporal dementia market is also projected to increase from $3.25 billion in 2025 to $4.99 billion by 2030, at a CAGR of 9.0%.
  • COYA 302 (Neurodegenerative and autoimmune diseases):
    • Neurodegenerative Diseases: The global neurodegenerative disease market size was estimated at USD 52.3 billion in 2024 and is projected to grow to USD 81.23 billion in 2029 with a CAGR of 9.2%. Another estimate places the global neurodegenerative disease market size at approximately USD 61.93 billion in 2024, projected to reach USD 121.30 billion by 2034. North America was the largest region in the neurodegenerative disease market in 2024.
    • Autoimmune Diseases: The global autoimmune disease therapeutics market is valued at USD 168.6 billion in 2025 and is forecast to reach USD 226.2 billion by 2035, reflecting a CAGR of 3.0%. The global Autoimmune Diseases Treatment market size was approximately $109.53 billion by the end of 2025. North America's Autoimmune Diseases Treatment market is dominant, with the United States holding a significant share.
  • COYA 201 (Neurodegenerative, autoimmune, and metabolic diseases):
    • Neurodegenerative Diseases: (See COYA 302 above)
    • Autoimmune Diseases: (See COYA 302 above)
    • Metabolic Diseases: The global metabolic disorder therapeutics market was valued at USD 74.97 billion in 2024 and is projected to reach USD 157.65 billion by 2033, growing at a CAGR of 8.6%. North America holds the largest revenue share in the global metabolic disorder therapeutics market.
  • COYA 206 (Antigen directed Treg-derived exosome product candidate): Null

AI Analysis | Feedback

Coya Therapeutics (COYA) is a clinical-stage biotechnology company developing therapies to modulate regulatory T cells (Tregs) for neurodegenerative and autoimmune diseases. Over the next 2-3 years, the company's revenue growth is expected to be driven primarily by advancements in its clinical pipeline and strategic partnerships. Here are 3-5 expected drivers of future revenue growth for Coya Therapeutics:
  1. Milestone Payments from COYA 302 for ALS

    A significant driver of near-term revenue growth for Coya Therapeutics is anticipated to come from milestone payments associated with its strategic partnership with Dr. Reddy's Laboratories. The FDA's acceptance of the Investigational New Drug (IND) application for COYA 302 in Amyotrophic Lateral Sclerosis (ALS) has already triggered a $4.2 million milestone payment. An additional $4.2 million milestone payment is expected upon the first patient dosing in the COYA 302 ALSTARS trial for ALS. Dr. Reddy's Laboratories holds commercialization rights for COYA 302 in the U.S., U.K., Canada, and the European Union, positioning future product sales as a long-term revenue source if approved.

  2. Advancement of COYA 302 into and through Phase 2 Clinical Trials for ALS

    The progression of COYA 302 through its Phase 2 clinical trial for ALS, known as the ALSTARS trial, is a crucial revenue driver. The trial was launched in Q3 2025 and has expanded to include sites in Canada. Positive topline data from this Phase 2 study, anticipated in 2026, would significantly de-risk the asset and potentially lead to further strategic collaborations, increased investment, or more favorable terms in existing partnerships, ultimately paving the way for eventual commercialization and product revenue.

  3. Progression of COYA 302 into Phase 2b Clinical Trials for Frontotemporal Dementia (FTD)

    The planned submission of an IND for a Phase 2b study of COYA 302 in patients with Frontotemporal Dementia (FTD) represents another potential revenue growth driver. The company has already secured a $5.0 million strategic investment from the Alzheimer's Drug Discovery Foundation (ADDF) to support the development of COYA 302 for FTD. Successful advancement of COYA 302 in FTD could unlock additional funding, milestone payments, or partnership opportunities, broadening Coya's therapeutic reach and future revenue streams.

AI Analysis | Feedback

Share Issuance

  • Coya Therapeutics closed its initial public offering (IPO) in January 2023, issuing 3,050,000 shares of common stock and accompanying warrants for gross proceeds of approximately $15.25 million.
  • In October 2024, the company issued 1,379,314 shares of common stock in a private placement to accredited investors.
  • Coya Therapeutics announced an $11.1 million private placement in January 2026.

Inbound Investments

  • Dr. Reddy's Laboratories Ltd. (via a subsidiary) acquired a 9.7% stake in Coya Therapeutics in March 2026.
  • Coya has received milestone payments from Dr. Reddy's Laboratories Ltd. under a Development and License Agreement, specifically tied to FDA acceptance of an Investigational New Drug (IND) application for COYA 302.

Capital Expenditures

  • Capital expenditures have been reported as not available ("N/A") in recent financial summaries.
  • The company's primary focus for capital allocation is to advance its programs in preclinical studies into clinical trials, further discovery and candidate selection stage programs, and for general corporate purposes.

Latest Trefis Analyses

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0ARTICLES

Trade Ideas

Select ideas related to COYA.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
QDEL_2282026_Insider_Buying_45D_2Buy_200K02282026QDELQuidelOrthoInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days
0.0%0.0%0.0%
CHE_2272026_Dip_Buyer_FCFYield02272026CHEChemedDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.0%0.0%0.0%
LLY_2272026_Monopoly_xInd_xCD_Getting_Cheaper02272026LLYEli LillyMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
0.0%0.0%0.0%
HAE_2202026_Dip_Buyer_FCFYield02202026HAEHaemoneticsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
3.5%3.5%0.0%
IQV_2132026_Dip_Buyer_ValueBuy02132026IQVIQVIADip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
7.1%7.1%-3.0%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

COYABIIBAMLXALECKYTXCABAMedian
NameCoya The.Biogen Amylyx P.Alector Kyverna .Cabalett. 
Mkt Price4.53181.5513.992.208.953.066.74
Mkt Cap0.126.71.50.20.40.30.4
Rev LTM49,891021002
Op Inc LTM-212,469-153-156-172-163-155
FCF LTM-121,969-123-184-158-120-122
FCF 3Y Avg-111,907-94-201-100-85-89
CFO LTM-122,205-123-184-157-119-121
CFO 3Y Avg-112,209-93-199-99-83-88

Growth & Margins

COYABIIBAMLXALECKYTXCABAMedian
NameCoya The.Biogen Amylyx P.Alector Kyverna .Cabalett. 
Rev Chg LTM-58.3%2.2%-100.0%-79.1%---68.7%
Rev Chg 3Y Avg--0.9%478.6%-34.3%---0.9%
Rev Chg Q--7.1%100.0%-88.5%---7.1%
QoQ Delta Rev Chg LTM841.7%-1.7%100.0%-69.5%--49.1%
Op Mgn LTM-516.7%25.0%--741.3%---516.7%
Op Mgn 3Y Avg-22.4%--347.3%---162.4%
QoQ Delta Op Mgn LTM4,825.6%-0.4%--562.2%---0.4%
CFO/Rev LTM-304.5%22.3%--874.5%---304.5%
CFO/Rev 3Y Avg-22.6%--430.9%---204.2%
FCF/Rev LTM-304.5%19.9%--874.7%---304.5%
FCF/Rev 3Y Avg-19.5%--432.3%---206.4%

Valuation

COYABIIBAMLXALECKYTXCABAMedian
NameCoya The.Biogen Amylyx P.Alector Kyverna .Cabalett. 
Mkt Cap0.126.71.50.20.40.30.4
P/S19.02.7-11.5--11.5
P/EBIT-3.714.6-10.0-1.5-2.4-2.0-2.2
P/E-4.120.6-10.6-1.7-2.4-2.0-2.2
P/CFO-6.212.1-12.5-1.3-2.5-2.6-2.6
Total Yield-24.3%4.9%-9.4%-59.3%-41.4%-50.7%-32.9%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-13.1%7.4%-24.3%-86.6%--44.4%-24.3%
D/E0.00.20.00.20.00.10.0
Net D/E-0.40.1-0.2-0.9-0.4-0.4-0.4

Returns

COYABIIBAMLXALECKYTXCABAMedian
NameCoya The.Biogen Amylyx P.Alector Kyverna .Cabalett. 
1M Rtn-8.1%-5.0%-2.5%14.6%18.5%19.1%6.0%
3M Rtn-26.7%4.3%6.8%47.7%1.9%29.7%5.5%
6M Rtn-25.1%25.3%20.1%-20.0%128.3%66.3%22.7%
12M Rtn-30.1%29.7%281.2%53.8%258.0%71.9%62.9%
3Y Rtn-1.5%-30.8%-59.0%-66.9%-70.2%-61.5%-60.2%
1M Excs Rtn-5.7%-2.7%-0.1%17.0%20.9%21.5%8.4%
3M Excs Rtn-24.0%3.9%7.4%70.8%11.0%28.1%9.2%
6M Excs Rtn-29.9%19.1%15.3%-26.2%112.8%66.2%17.2%
12M Excs Rtn-52.7%8.5%236.8%24.7%232.7%39.2%31.9%
3Y Excs Rtn-72.8%-100.7%-131.0%-139.2%-139.9%-135.5%-133.2%

Comparison Analyses

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Financials

Segment Financials

Assets by Segment
$ Mil202420232022
Single Segment4185
Total4185


Price Behavior

Price Behavior
Market Price$4.53 
Market Cap ($ Bil)0.1 
First Trading Date12/29/2022 
Distance from 52W High-38.5% 
   50 Days200 Days
DMA Price$4.81$5.71
DMA Trenddowndown
Distance from DMA-5.9%-20.7%
 3M1YR
Volatility59.2%65.4%
Downside Capture154.5597.04
Upside Capture-17.1340.87
Correlation (SPY)21.1%26.3%
COYA Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta2.890.770.840.490.910.90
Up Beta5.365.474.342.130.820.93
Down Beta2.94-0.31-0.080.831.361.11
Up Capture306%-56%-54%-39%31%41%
Bmk +ve Days9203170142431
Stock +ve Days10172655113349
Down Capture130%41%116%31%91%93%
Bmk -ve Days12213054109320
Stock -ve Days9223365130383

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with COYA
COYA-32.8%65.4%-0.35-
Sector ETF (XLV)5.0%17.5%0.1232.6%
Equity (SPY)19.6%18.9%0.8126.6%
Gold (GLD)71.9%26.3%2.056.1%
Commodities (DBC)19.3%17.3%0.8911.9%
Real Estate (VNQ)6.2%16.3%0.1923.9%
Bitcoin (BTCUSD)-15.0%44.2%-0.2426.8%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with COYA
COYA-0.5%70.4%0.28-
Sector ETF (XLV)7.5%14.5%0.3320.2%
Equity (SPY)13.1%17.0%0.6119.0%
Gold (GLD)24.1%17.3%1.141.3%
Commodities (DBC)11.2%19.0%0.474.7%
Real Estate (VNQ)4.8%18.8%0.1618.6%
Bitcoin (BTCUSD)6.4%56.7%0.3312.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with COYA
COYA-0.2%70.4%0.28-
Sector ETF (XLV)10.1%16.5%0.5020.2%
Equity (SPY)14.5%17.9%0.7019.0%
Gold (GLD)14.4%15.6%0.771.3%
Commodities (DBC)8.6%17.6%0.404.7%
Real Estate (VNQ)5.6%20.7%0.2318.6%
Bitcoin (BTCUSD)67.5%66.8%1.0712.9%

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Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity0.8 Mil
Short Interest: % Change Since 21520260.2%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest8.9 days
Basic Shares Quantity16.7 Mil
Short % of Basic Shares5.0%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/12/20251.3%2.5%2.8%
8/12/2025-0.3%-2.3%2.6%
3/18/2025-5.8%-2.9%-19.6%
11/6/20247.7%7.6%-11.3%
8/12/2024-12.9%-15.5%-4.3%
3/19/20242.1%-10.1%-16.4%
11/8/2023-0.1%-0.3%36.2%
8/8/20231.3%-8.2%11.4%
...
SUMMARY STATS   
# Positive425
# Negative574
Median Positive1.7%5.0%11.4%
Median Negative-4.5%-8.2%-13.9%
Max Positive7.7%7.6%36.2%
Max Negative-12.9%-15.5%-19.6%

SEC Filings

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Report DateFiling DateFiling
09/30/202511/12/202510-Q
06/30/202508/12/202510-Q
03/31/202505/13/202510-Q
12/31/202403/18/202510-K
09/30/202411/06/202410-Q
06/30/202408/12/202410-Q
03/31/202405/09/202410-Q
12/31/202303/19/202410-K
09/30/202311/08/202310-Q
06/30/202308/08/202310-Q
03/31/202305/10/202310-Q
12/31/202203/29/202310-K
09/30/202212/30/2022424B4