Is Catalyst Biosciences, Inc. overvalued or undervalued?

As of 17 June 2025, the valuation grade for Catalyst Biosciences, Inc. has moved from attractive to expensive, indicating a shift in perception regarding its valuation. The company appears to be overvalued based on its current metrics. Key ratios include a P/E ratio of 94, an EV to EBITDA of 57.11, and a Price to Book Value of 10.60, all of which are significantly higher than the industry averages.
In comparison to peers, Catalyst's P/E ratio of 90.02 is notably elevated when compared to OncoCyte Corp., which is categorized as risky with a P/E of -3.98. Additionally, Catalyst's EV to EBITDA ratio is also higher than the average of its peers, further reinforcing the overvaluation stance. The company's recent stock performance has underperformed against the S&P 500, with a year-to-date return of -35.79% compared to the S&P 500's 2.44%, suggesting that the market is reacting negatively to its valuation.