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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#3838
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$17M
Howard Berman
We are a clinical-stage biotechnology company focused on developing proprietary new therapies to enhance the function of regulatory T cells. We were incorporated under the laws of the state of Delaware on November 23, 2020 under the name Coya Therapeutics, Inc. On December 22, 2020, we consummated the Corporate Reorganization pursuant to which all of the issued and outstanding stock of Nicoya Health, Inc., a Delaware corporation formed in 2020, were exchanged for common stock of Coya Therapeutics, Inc. Our principal executive offices are located at 5850 San Felipe St, Suite 500, Houston, TX.
Headcount
6
HQ Base
Pending Verification
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$COYA Coya Therapeutics, Inc. | 38 | 52 | 25 | 21 | - | - | -71.6% | -61.0% | 100.0% | -2321.9% | -2206.0% | 4.1% | 0.0% | 17.0x | $17M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
Coya Therapeutics, Inc. (COYA) receives a "Avoid" rating with a composite score of 37.5/100. It ranks #3838 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Howard Berman
Chief Executive Officer
Labor Force
6
52
25
55
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for COYA
Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Average quality profile
Average volatility — neutral timing signal
Aggressive spending — empire-building risk, dilutive growth
Below-average composite — caution warranted
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for COYA.
View All RatingsHigh margin volatility — erratic forensic earnings quality
ROE proxy -71.6% (sector -2.5%)
GM 100% vs sector 43%, OM -2322% vs sector 1%
Capital turnover N/A
Rev growth 4%, 3yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our quantitative model flags Coya Therapeutics, Inc. with an Avoid rating, assigning a composite score of 37.5/100 and 1 out of 5 stars. Ranked #3838 of 7,333 stocks, COYA falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
With a quality score of 52/100, COYA shows adequate but unremarkable business quality. The company reports a return on equity of -71.6% (sector avg: -2.5%), gross margins of 100.0% (sector avg: 42.5%), net margins of -2206.0% (sector avg: -0.2%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
COYA registers a value score of just 25/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/B ratio of 3.54x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
Coya Therapeutics, Inc.'s investment score of 25/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 4.1% vs. a sector average of 5.9% and a return on assets of -61.0% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
Coya Therapeutics, Inc. is experiencing notably weak momentum with a score of just 21/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth stands at 4.1% year-over-year, while a beta of 0.84 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
With a stability score of 55/100, COYA exhibits average financial resilience. Key stability metrics include a beta of 0.84 and a debt-to-equity ratio of 17.00x (sector avg: 0.2x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
The short interest score of 46/100 for COYA suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 17.00x), micro-cap liquidity risk. With a $17M market cap (micro-cap), Coya Therapeutics, Inc. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
Coya Therapeutics, Inc. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #3838 of 7,333 overall (48th percentile). Key comparisons include ROE of -71.6% trailing the -2.5% sector median and operating margins of -2321.9% below the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While COYA currently exhibits a AVOID profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Momentum (21) would have the largest impact on the composite score.
ROE 2788% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 135% ABOVE SECTOR MEDIAN (FAVORABLE)
Op. Margin 180090% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate Coya Therapeutics, Inc. (COYA) as Avoid with a composite score of 37.5/100 at a current price of $4.88. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in stability (55th percentile) and quality (52th percentile), which together account for the majority of the composite score. Offsetting weakness in momentum (21th percentile) and value (25th percentile) tempers our overall conviction. We assign a No Moat rating (28/100), Medium uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; the path to profitability; valuation compression risk if growth disappoints. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
Coya Therapeutics, Inc. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 37.5/100 places it at rank #3838 in our full 7,333-stock universe. At $17M in market capitalization, Coya Therapeutics, Inc. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Revenue is growing at 4%, though momentum at the 21th percentile suggests the market has not yet fully recognized this trajectory. This potential disconnect between fundamental improvement and market recognition could represent an opportunity for patient investors if the growth trend persists.
The margin cascade tells an important story: gross margins of 100% (+57.5pp vs sector) narrow to operating margins of -2322% (-2323.2pp vs sector) and net margins of -2206.0%, yielding a gross-to-net conversion rate of -2206%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $4.88, Coya Therapeutics, Inc. is trading at a premium to fundamental value. Our value factor score of 25/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 3.5x, P/S of 24.2x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
Gross margins of 100% signal strong pricing power and brand/IP advantages — businesses with margins above 40% have historically demonstrated more resilient earnings through economic cycles.
A conservative balance sheet (17% D/E) provides financial flexibility for acquisitions, buybacks, or weathering economic downturns without dilution.
The Avoid rating (composite 37.5/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Thin net margins of -2206.0% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
Weak momentum (21th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
We assign a Medium uncertainty rating to Coya Therapeutics, Inc.. The stock presents a balanced risk profile: current negative profitability (net margin -2206.0%). While not risk-free, the core business fundamentals are adequate to withstand moderate economic stress, and the range of potential outcomes around our fair value estimate is manageable.
Specific risk factors that inform our assessment include: current negative profitability (net margin -2206.0%). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 55th percentile and quality factor at the 52th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: healthy gross margins of 100% provide a buffer against cost pressures; conservative leverage (17% D/E) limits balance sheet risk. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile is favorable for long-term investors.
We rate Coya Therapeutics, Inc.'s capital allocation as Poor. Key concerns include low returns on equity (-71.6%), negative profitability, weak asset returns (ROA -61.0%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — Coya Therapeutics, Inc. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, Coya Therapeutics, Inc. receives a Avoid rating with a composite score of 37.5/100 (rank #3838 of 7,333). Our quantitative framework assigns a No Moat (28/100, trend: stable), Medium uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 36/100.
Our analysis does not support a constructive view on Coya Therapeutics, Inc. at this time. The combination of limited competitive advantages, medium uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign Coya Therapeutics, Inc. a meaningful economic moat, scoring 28/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 10.4/20.
The strongest moat sources are margin superiority (10.4/20) and financial resilience (8.9/20). GM 100% vs sector 43%, OM -2322% vs sector 1%. Interest coverage N/A. These pillars form the core of Coya Therapeutics, Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and economic value creation (2.5/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect Coya Therapeutics, Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include gross margins of 100% providing a solid profitability foundation. The margin cascade from 100% gross to -2322% operating to -2206.0% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 52th percentile.
The margin profile shows gross margins of 100%, operating margins of -2322%, net margins of -2206.0%. Return metrics include ROE of -71.6% and ROA of -61.0%. Relative to the Manufacturing sector, gross margins are 57.5 percentage points above the sector median of 43%, and ROE of -71.6% compares to a sector median of -2.5%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 17%, revenue growth of 4%. The sector median D/E is 0%, putting Coya Therapeutics, Inc. at higher leverage than the typical peer. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
COYA and Dr. Reddy's enter into a license agreement where the latter will source proposed biosimilar of abatacept biosimilar to Coya to develop and commercialize COYA 302.
D. Boral Capital analyst Jason Kolbert maintains Coya Therapeutics (NASDAQ:COYA) with a Buy and maintains $15 price target.
Speakers on a Coya Therapeutics (NASDAQ:COYA) webinar outlined the company’s scientific rationale and clinical development plans for an investigational combination immunotherapy in amyotrophic lateral sclerosis (ALS), emphasizing a shift in the field toward more targeted, biology-driven approaches.
HOUSTON, February 10, 2026--Coya Therapeutics, Inc. (NASDAQ: COYA) ("Coya" or the "Company"), a clinical-stage biotechnology company developing biologics intended to enhance T-cell (Treg) function in patients with neurodegenerative disorder, today announced it will host a live webinar on February 17, 2026 at 3:00 p.m. ET/ 12:00 p.m. PT exploring the evolving ALS treatment landscape.
HOUSTON, January 20, 2026--Coya Therapeutics, Inc. (NASDAQ: COYA) ("Coya" or the "Company"), a clinical-stage biotechnology company developing biologics intended to enhance Treg function, releases the following letter to stockholders from Chief Executive Officer Dr. Arun Swaminathan.