Is Allogene Therapeutics, Inc. overvalued or undervalued?

As of 4 May 2022, the valuation grade for Allogene Therapeutics, Inc. moved from risky to does not qualify, indicating a significant deterioration in its financial standing. The company is currently deemed overvalued given its negative performance metrics, including a price-to-book value of 0.81 and an EV to EBITDA of -0.16. Additionally, the return on capital employed (ROCE) stands at a staggering -224.08%, and the return on equity (ROE) is at -61.39%, reflecting substantial losses.
In comparison to its peers, Allogene Therapeutics, Inc. shows a P/E ratio of -1.2018, while Enliven Therapeutics, Inc. has a P/E of -11.1774, and Wave Life Sciences Ltd. is at -9.0427, highlighting that Allogene is not alone in its struggles but still underperforms relative to its peers. The company's stock has significantly lagged behind the S&P 500, with a year-to-date return of -42.72% compared to the index's 2.44%. Overall, Allogene Therapeutics, Inc. appears to be overvalued in the current market environment.