Is Janux Therapeutics, Inc. overvalued or undervalued?

As of 9 November 2021, Janux Therapeutics, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently overvalued based on its financial metrics. Key ratios include a Price to Book Value of 1.54, an EV to EBITDA of -4.93, and an ROE of -7.68%.
In comparison to its peers, Avidity Biosciences, Inc. has a P/E ratio of -9.59 and an EV to EBITDA of -5.03, while AnaptysBio, Inc. shows a P/E of -4.98 and an EV to EBITDA of -7.07. These ratios indicate that Janux is underperforming relative to its peers in the same risky valuation category. Additionally, the company's recent stock performance has been poor, with a year-to-date return of -57.27%, contrasting sharply with the S&P 500's positive return of 2.44% in the same period.