Is Coya Therapeutics, Inc. overvalued or undervalued?

As of 12 August 2025, the valuation grade for Coya Therapeutics, Inc. moved from risky to does not qualify, indicating a significant deterioration in its financial standing. The company appears to be overvalued given its current metrics, particularly with a Price to Book Value of 2.94 and an EV to Sales ratio of 17.02, which suggest a high valuation relative to its financial performance. Additionally, the negative ROE of -51.35% further underscores the company's struggles.
In comparison to its peers, Coya Therapeutics, Inc. has a notably worse EV to EBITDA ratio of -3.23, while Gaia, Inc. has a much higher ratio of 10.4728, indicating a more favorable valuation in that regard. Similarly, Research Solutions, Inc. shows a significantly negative EV to EBITDA of 30.0380, reinforcing the challenges faced by Coya. Over the past year, Coya's stock has underperformed relative to the S&P 500, returning -5.28% compared to the index's 17.14%, which further supports the view that the stock is overvalued in its current state.