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Coya Therapeutics, Inc. (COYA) Surges 10.7%: Is This an Indication of Further Gains?
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Coya Therapeutics, Inc. (COYA - Free Report) shares rallied 10.7% in the last trading session to close at $6.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.5% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to the positive investor expectations regarding the potential of Coya Therapeutics’ broad pipeline of candidates being developed for a variety of neurodegenerative disease indications. The company is currently gearing up to initiate a phase II study of its lead candidate, COYA-302, for the treatment of amyotrophic lateral sclerosis. The candidate is also being evaluated for additional indications in separate pre-clinical and early-stage clinical studies.
This company is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -15.8%. Revenues are expected to be $4.2 million, up 22.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Coya Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on COYA going forward to see if this recent jump can turn into more strength down the road.
Coya Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Absci Corporation (ABSI - Free Report) , closed the last trading session 0.3% lower at $3.51. Over the past month, ABSI has returned 27.5%.
ABSCI CORP's consensus EPS estimate for the upcoming report has changed -10% over the past month to -$0.2. Compared to the company's year-ago EPS, this represents a change of +9.1%. ABSCI CORP currently boasts a Zacks Rank of #4 (Sell).
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Coya Therapeutics, Inc. (COYA) Surges 10.7%: Is This an Indication of Further Gains?
Coya Therapeutics, Inc. (COYA - Free Report) shares rallied 10.7% in the last trading session to close at $6.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.5% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to the positive investor expectations regarding the potential of Coya Therapeutics’ broad pipeline of candidates being developed for a variety of neurodegenerative disease indications. The company is currently gearing up to initiate a phase II study of its lead candidate, COYA-302, for the treatment of amyotrophic lateral sclerosis. The candidate is also being evaluated for additional indications in separate pre-clinical and early-stage clinical studies.
This company is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -15.8%. Revenues are expected to be $4.2 million, up 22.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Coya Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on COYA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Coya Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Absci Corporation (ABSI - Free Report) , closed the last trading session 0.3% lower at $3.51. Over the past month, ABSI has returned 27.5%.
ABSCI CORP's consensus EPS estimate for the upcoming report has changed -10% over the past month to -$0.2. Compared to the company's year-ago EPS, this represents a change of +9.1%. ABSCI CORP currently boasts a Zacks Rank of #4 (Sell).