Is ImmunityBio, Inc. overvalued or undervalued?

As of 12 August 2024, ImmunityBio, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently overvalued, as indicated by its negative P/E ratio and poor performance metrics. Key ratios include a Price to Book Value of -4.70, an EV to EBIT of -11.19, and an EV to EBITDA of -11.83, all of which suggest significant financial distress.
In comparison to its peers, ImmunityBio's P/E ratio stands at -5.55, while TG Therapeutics, Inc. is considered expensive with a P/E of 138.44, and Viking Therapeutics, Inc. does not qualify with a P/E of -23.15. The stark contrast in valuation metrics highlights the challenges faced by ImmunityBio. Additionally, the company's recent stock performance shows a significant decline of 61.98% over the past year, compared to a 10.26% increase in the S&P 500, reinforcing the notion of overvaluation amidst poor returns.