Is Adaptive Biotechnologies Corp. overvalued or undervalued?

As of 12 November 2019, the valuation grade for Adaptive Biotechnologies Corp. has moved from does not qualify to risky. The company is currently assessed as overvalued given its negative earnings and poor return metrics. Key ratios include a Price to Book Value of 8.05, an EV to EBIT of -10.97, and an EV to EBITDA of -12.74, which highlight significant financial distress.
In comparison to peers, Adaptive Biotechnologies Corp. has a much lower EV to EBITDA ratio than ADMA Biologics, Inc., which stands at 28.2087, indicating a stark contrast in valuation and operational performance. Additionally, the company's ROCE and ROE are severely negative at -95.89% and -70.23%, respectively, further emphasizing its financial challenges. Despite a strong recent stock performance, with a 1-year return of 225.93% compared to the S&P 500's 10.26%, the underlying financial metrics suggest that the stock is overvalued in the current market context.