Here’s Greenlight Capital’s Update on Coya Therapeutics (COYA)

Greenlight Capital, an investment management company, released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Greenlight Capital funds returned -3.6% in the quarter, net of fees and expenses, compared to 8.1% for the S&P 500 index. The fund returned 0.4% in YTD compared to 14.8% for the index. For more information on the fund’s top picks in 2025, please check its top five holdings.

In its third-quarter 2025 investor letter, Greenlight Capital highlighted stocks such as Coya Therapeutics, Inc. (NASDAQ:COYA). Coya Therapeutics, Inc. (NASDAQ:COYA) is a clinical-stage biotechnology company. The one-month return of Coya Therapeutics, Inc. (NASDAQ:COYA) was 14.31%, and its shares lost 36.51% of their value over the last 52 weeks. On October 27, 2025, Coya Therapeutics, Inc. (NASDAQ:COYA) stock closed at $6.47 per share, with a market capitalization of $108.325 million.

Greenlight Capital stated the following regarding Coya Therapeutics, Inc. (NASDAQ:COYA) in its third quarter 2025 investor letter:

“We want to update you on our small investment in Coya Therapeutics, Inc. (NASDAQ:COYA). COYA is a clinical-stage biotechnology company whose lead drug, aimed at treating ALS (Lou Gehrig’s disease), has just entered clinical trials. While results won’t be known for about a year, the compound appears very promising and, if the trial succeeds, it has an excellent chance to receive “fast track” approval from the FDA. COYA is a small position for us because its market capitalization is only about $100 million, and we are the largest shareholder.

COYA’s scientific approach was recently profiled in Nature.7 Additionally, last week Dr. Shimon Sakaguchi – a member of COYA’s scientific advisory committee – was awarded the Nobel Prize in Medicine for his work on immunology in an area consistent with COYA’s approach. His research forms the foundation of COYA’s focus on ALS, Alzheimer’s and other related conditions. The Nobel Prize validates this science and underscores COYA’s leadership in advancing a potentially transformative new class of treatments.

Of course, there is no way to know how the trial will turn out. But, at a time when AI related business plans that are not much more than a PowerPoint presentation are being funded at multi-billion-dollar valuations, we’d prefer to speculate on COYA at a $100 million valuation.”

In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.