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 deterioration in its investment appeal. The company appears to be overvalued based on its financial metrics, particularly given its negative P/E ratio and ROE of -55.69%. Key ratios include a Price to Book Value of 2.59 and an EV to Sales ratio of 43.62, which suggest that the stock is priced significantly higher than its underlying assets and sales performance would justify.
In comparison to its peers, Immunome's valuation metrics are concerning; for instance, it has a P/E ratio of -4.5888 while its EV to EBITDA stands at -2.9278. This highlights a stark contrast with the industry expectations and raises questions about its future profitability. Additionally, while Immunome's stock returned 93.9% over the past three years, it underperformed against the S&P 500, which returned 70.41% in the same period, further reinforcing the notion that the stock may be overvalued.