Is ALX Oncology Holdings, Inc. overvalued or undervalued?

As of 17 May 2021, the valuation grade for ALX Oncology Holdings, Inc. moved from risky to does not qualify. The company is currently considered overvalued given its significant operational losses and negative return metrics. Key ratios include a price to book value of 0.35, an EV to EBIT of 0.40, and a ROE of -147.26%.
In comparison to peers, Universal Technical Institute, Inc. has a fair valuation with a P/E ratio of 31.55, while Emerald Holding, Inc. is deemed expensive with a P/E of 41.37. The stark contrast in valuations highlights ALX's struggles, particularly as it has underperformed significantly against the S&P 500, with a year-to-date return of -72.47% compared to the index's 2.44%. Overall, ALX Oncology Holdings appears to be overvalued in its current state.