Is AnaptysBio, Inc. overvalued or undervalued?

As of 7 March 2022, AnaptysBio, Inc. has moved from a fair to risky valuation grade, indicating a significant deterioration in its financial outlook. The company is currently deemed overvalued given its negative earnings and troubling financial ratios, including a price-to-book value of 20.47 and an EV to EBITDA of -7.04. Additionally, the return on capital employed (ROCE) and return on equity (ROE) are alarmingly low at -379.46% and -413.34%, respectively.
In comparison to its peers, AnaptysBio's valuation metrics are concerning. For instance, while Entrada Therapeutics, Inc. is rated attractive with a P/E of 11.04, AnaptysBio's P/E is not applicable due to its loss-making status, and its EV to EBITDA ratio stands at -7.07, further emphasizing its challenging position. The company's stock has underperformed against the S&P 500 over the past year, with a return of -4.92% compared to the index's 10.26%, reinforcing the view that AnaptysBio is currently overvalued.