Is Atara Biotherapeutics, Inc. overvalued or undervalued?

As of 4 May 2021, the valuation grade for Atara Biotherapeutics, Inc. moved from does not qualify to risky. The company appears to be overvalued based on its financial metrics. Key ratios include a Price to Book Value of -1.14, an EV to EBITDA of 62.71, and an EV to Sales of 0.51. In comparison, peers such as Fusion Pharmaceuticals, Inc. have a P/E ratio of -17.5788 and an EV to EBITDA of -15.5851, while Emergent BioSolutions, Inc. shows a more attractive P/E of 2.9017 and an EV to EBITDA of 3.8058.
Despite a strong one-year return of 53.37% compared to the S&P 500's 17.14%, the company's long-term performance has been significantly poor, with a three-year return of -88.05% versus the S&P 500's 70.41%. This suggests that while there may be short-term gains, the overall valuation remains questionable, reinforcing the view that Atara Biotherapeutics is overvalued.