Is KalVista Pharmaceuticals, Inc. overvalued or undervalued?

As of 13 July 2021, the valuation grade for KalVista Pharmaceuticals, Inc. has moved from risky to does not qualify, indicating a significant downgrade in its financial standing. The company is currently considered overvalued, given its negative performance indicators. Key ratios include a Price to Book Value of 4.92, an EV to EBIT of -3.10, and an ROE of -121.18%, all reflecting substantial financial distress.
In comparison to its peers, KalVista's valuation metrics are notably worse. For instance, ARS Pharmaceuticals, Inc. has a P/E ratio of -92.4143, while Liquidia Corp. shows a P/E of -8.6024, both of which are also in the risky category. The recent stock performance shows that KalVista has underperformed the S&P 500 over the past year, with a return of 1.62% compared to the S&P 500's 10.26%. This further reinforces the conclusion that KalVista Pharmaceuticals, Inc. is overvalued in its current state.