Coya Therapeutics investor reports 5.3% ownership stake

Coya Therapeutics, Inc. received an updated ownership report on its common stock from investor Orin Hirschman and affiliated entities on a Schedule 13G/A (Amendment No. 3).

Accepted by SEC EDGAR 01/28/2026 - 02:13 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Coya Therapeutics, Inc. received an updated ownership report on its common stock from investor Orin Hirschman and affiliated entities on a Schedule 13G/A (Amendment No. 3).

Mr. Hirschman reports beneficial ownership of 1,108,171 shares, representing 5.3% of Coya’s common stock, with sole voting and dispositive power over these shares. AIGH Capital Management LLC reports beneficial ownership of 975,404 shares, representing 4.7% of the class, also with sole voting and dispositive power. The filing is made on a passive basis, stating the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Coya Therapeutics.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does this Schedule 13G/A filing reveal about COYA ownership?

The filing shows Orin Hirschman beneficially owns 1,108,171 Coya Therapeutics shares, or 5.3% of the common stock. It also reports AIGH Capital Management LLC holds 975,404 shares, or 4.7%, giving investors clarity on significant institutional and insider-related holdings.

Who is the reporting person in the COYA Schedule 13G/A?

The primary reporting person is Orin Hirschman, along with AIGH Capital Management LLC and AIGH Investment Partners LLC. Hirschman is Managing Member of AIGH Capital Management and president of AIGH Investment Partners, and they are collectively referred to as the reporting persons in the ownership disclosure.

How many Coya Therapeutics (COYA) shares does Orin Hirschman control?

Orin Hirschman reports beneficial ownership of 1,108,171 Coya Therapeutics common shares, representing 5.3% of the class. He has sole voting and dispositive power over these shares, meaning he alone can vote and decide when to sell or otherwise dispose of them.

What stake in COYA does AIGH Capital Management LLC report?

AIGH Capital Management LLC reports beneficial ownership of 975,404 Coya Therapeutics common shares, representing 4.7% of the class. The firm has sole voting and dispositive power over these shares, indicating full decision-making authority regarding voting and disposition of its reported holdings.

Is the COYA Schedule 13G/A filing made on a passive basis?

Yes. The certification states the securities were acquired and are held in the ordinary course of business, not to change or influence control of Coya Therapeutics. It also notes they are not held in connection with any control-related transaction, except activities tied to certain nomination rules.

What type of securities are covered in this COYA Schedule 13G/A?

The filing covers common stock of Coya Therapeutics, Inc., with a par value of $0.0001 per share and CUSIP number 22407B108. It specifies ownership percentages and voting and dispositive powers associated with these common shares as required under Schedule 13G rules.

When did the ownership event for this COYA Schedule 13G/A occur?

The date of the event requiring this Schedule 13G/A filing is listed as December 31, 2025. That date is the reference point for the reported ownership levels and percentages and reflects when the beneficial ownership position met the relevant reporting threshold.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Coya Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

22407B108

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 22407B108

1

Names of Reporting Persons

Orin Hirschman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,108,171.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,108,171.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,108,171.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.3 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. 22407B108

1

Names of Reporting Persons

AIGH Capital Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 975,404.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 975,404.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

975,404.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.7 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Coya Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 5850 San Felipe St., Suite 500, Houston, TX, 77057
Item 2.
(a)	Name of person filing: This Schedule 13G is being jointly filed by each of the following persons pursuant to Rule 13d-1 promulgated by the Securities and Exchange Commission pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "Act"): (i) AIGH Capital Management, LLC, a Maryland limited liability company ("AIGH CM"), as an Advisor or Sub-Advisor with respect to shares of Common Stock (as defined in Item 2(d) below) held by AIGH Investment Partners, L.P., and WVP Emerging Manger Onshore Fund, LLC - AIGH Series. (ii) AIGH Investment Partners, L.L.C., a Delaware limited liability company ("AIGH LLC";), with respect to shares of Common Stock (as defined in Item 2(d) below) directly held by it; (iii) Mr. Orin Hirschman ("Mr. Hirschman"), who is the Managing Member of AIGH Capital Management, LLC and president of AIGH LLC, with respect to shares of Common Stock (as defined in Item 2(d) below) indirectly held through AIGH CM, directly by AIGH LLC and Mr. Hirschman and his family directly. AIGH Capital Management LLC., AIGH Investment Partners LLC, and Mr. Hirschman are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.
(b)	Address or principal business office or, if none, residence: The principal office and business address of AIGH Capital Management LLC, AIGH Investment Partners LLC, and Mr.Hirschman is: 6006 Berkeley Avenue, Baltimore MD 21209
(c)	Citizenship: See Item 2(a) above and Item 4 of each cover page.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 22407B108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,108,171
(b)	Percent of class: 5.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,108,171
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,108,171
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Orin Hirschman

Signature:	/s/ Orin Hirschman
Name/Title:	Orin Hirschman
Date:	01/28/2026

AIGH Capital Management LLC

Signature:	/s/ Orin Hirschman
Name/Title:	Orin Hirschman, Managing Member
Date:	01/28/2026