Is Immuneering Corp. overvalued or undervalued?

As of 10 August 2022, the valuation grade for Immuneering Corp. moved from risky to does not qualify. The company is currently overvalued based on its financial metrics. Notable ratios include a Price to Book Value of 1.83, an EV to EBIT of -0.64, and an EV to EBITDA of -0.65, all indicating significant financial distress and loss-making status.
In comparison with peers, Immuneering Corp. has a P/E ratio of -1.0602, while Ocular Therapeutix, Inc. has a P/E of -6.7319 and Akebia Therapeutics, Inc. has a P/E of -20.3063, highlighting that Immuneering is not the worst performer but still falls into a concerning category. The company's recent stock performance has outpaced the S&P 500, with a 1-year return of 70.63% compared to the index's 10.26%, yet this does not mitigate the overall valuation concerns.