COYA-302: De-Risked Treg Platform With Compelling FTD Data and ALS Phase 2 Catalyst Supporting Buy Rating

Analyst Thomas Shrader of BTIG maintained a Buy rating on Coya Therapeutics, Inc., retaining the price target of $16.00.

Thomas Shrader has given his Buy rating due to a combination of factors related to both clinical data and strategic positioning. He highlights that, despite being a small, single-center study, the recent frontotemporal dementia (FTD) trial of COYA-302 showed an unexpectedly stable disease course in patients who would typically be expected to worsen, alongside a favorable safety profile. He also emphasizes that the observed doubling of regulatory T cell (Treg) activity aligns with prior datasets and fits a compelling mechanistic rationale in highly inflammatory neurodegenerative diseases like FTD and ALS. In his view, the convergence of consistent biomarker improvements, disease stability signals, and clean safety meaningfully de-risks the program.

Shrader further points to the upcoming ALSTARS Phase 2 trial in ALS as a major value driver, noting that it is well-designed, includes important biomarkers such as Nf-L and oxidized lipids, and follows FDA acceptance of the IND, which he interprets as regulatory alignment on the program. He underscores that each component of COYA-302 is already approved as a monotherapy, which may reduce development risk for the combination. In addition, he notes that rising scientific and regulatory interest in Treg-based approaches, exemplified by recent high-profile recognition and Coya’s own publication in a leading journal, enhances the company’s strategic visibility and trial recruitment prospects. Finally, he sees added upside optionality in Coya’s broader pipeline, including the COYA-303 program in Alzheimer’s disease, and incorporates these drivers into a discounted cash flow valuation that supports a favorable risk-reward profile for COYA shares.

Shrader covers the Healthcare sector, focusing on stocks such as Gain Therapeutics, Aldeyra Therapeutics, and NRX Pharmaceuticals. According to TipRanks, Shrader has an average return of 4.7% and a 39.88% success rate on recommended stocks.

In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $18.00 price target.