Is Catalyst Biosciences, Inc. overvalued or undervalued?

As of 9 May 2025, the valuation grade for Catalyst Biosciences, Inc. has moved from fair to expensive, indicating a shift towards overvaluation. The company appears overvalued based on its high P/E ratio of 94, a Price to Book Value of 10.60, and an EV to EBITDA ratio of 57.11, which are significantly higher than its peers. For instance, Equillium, Inc. has a P/E ratio of -5.54, and OncoCyte Corp. shows a P/E of -2.92, highlighting the relative overvaluation of Catalyst.
The company's stock has underperformed compared to the S&P 500, with a year-to-date return of -36.45% versus the index's 12.22%, and a staggering 5-year return of -89.36% compared to the S&P's 96.61%. This significant underperformance reinforces the conclusion that Catalyst Biosciences, Inc. is currently overvalued.