Is BioCardia, Inc. overvalued or undervalued?

As of 9 August 2023, BioCardia, Inc. has moved from a valuation grade of risky to does not qualify, indicating significant concerns regarding its financial health. The company is currently considered overvalued, especially given its negative financial ratios such as a Price to Book Value of -7.39 and an EV to EBITDA of -1.33. These figures suggest that the company's market valuation does not align with its underlying financial performance.
In comparison to its peers, BioCardia's EV to EBIT ratio of -1.26 is slightly better than Frequency Therapeutics, Inc. at -1.3504, but worse than Landos Biopharma, Inc. at -2.9258. Additionally, the company's recent stock performance has been poor, with a year-to-date return of -7.34%, significantly lagging behind the S&P 500's 2.44% return. Overall, the combination of negative ratios and poor stock performance reinforces the conclusion that BioCardia, Inc. is overvalued in its current state.