Is BioAtla, Inc. overvalued or undervalued?

As of 7 November 2024, BioAtla, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued given its financial metrics and peer comparisons. Key ratios include a Price to Book Value of 28.15, an EV to EBIT of 0.05, and an EV to EBITDA of 0.06, which indicate significant valuation concerns, especially in light of its negative earnings.
In comparison to its peers, BioAtla's EV to EBITDA ratio of 0.1364 is notably better than CARA Therapeutics, Inc. at -8.0086, but still reflects a challenging financial position. Other peers, such as Compugen Ltd. with an EV to EBITDA of -3.4456, further highlight the risks associated with BioAtla's valuation. Additionally, the company's stock has underperformed significantly over the past year, with a decline of 72.74% compared to a 10.26% gain in the S&P 500, reinforcing the perception of overvaluation in the current market context.