Coya Therapeutics initiated with a Buy at EF Hutton

EF Hutton initiated coverage of Coya Therapeutics with a Buy rating and $28 price target. Coya, which developed "a pioneering approach to treat neurodegenerative disorders by addressing inflammation in the brain," has found COYA 302 was safe and well tolerated in an initial trial and also demonstrated potential efficacy in boosting Treg cell function and ameliorating progression of amyotrophic lateral sclerosis, or ALS, also called Lou Gehrig’s disease. The firm’s target is based on after-tax, risk-adjusted net present value of potential future cash flows from the company’s ALS program COYA 302, but it notes Coya plans to explore the activity of 302 in other neurodegenerative conditions.