Is Immunome, Inc. overvalued or undervalued?

As of 5 May 2023, the valuation grade for Immunome, Inc. has moved from does not qualify to risky, indicating a shift in perception regarding its financial health. The company appears to be overvalued given its current financial metrics, including a Price to Book Value of 2.59 and a negative Return on Equity (ROE) of -55.69%. Additionally, the EV to Sales ratio stands at a high 43.62, which suggests that investors are paying a premium for the company's sales relative to its enterprise value.
When compared to peers, Immunome's P/E ratio is notably negative at -4.55, while Theseus Pharmaceuticals, Inc. has a fair valuation with a P/E of -3.17, and Cyteir Therapeutics, Inc. is also rated fair with a P/E of -3.52. This peer comparison reinforces the notion that Immunome is not only struggling financially but is also priced higher relative to its performance. The company's stock has underperformed significantly, with a year-to-date return of -17.7% compared to a 2.44% return for the S&P 500, further emphasizing its overvaluation in the current market context.