Is NeuroOne Medical Technologies Corp. overvalued or undervalued?

As of 22 December 2022, the valuation grade for NeuroOne Medical Technologies Corp. moved from does not qualify to risky. The company appears to be overvalued given its high price-to-book value of 25.74 and negative EV to EBITDA of -4.39, indicating significant challenges in generating earnings relative to its enterprise value. Additionally, the return on equity (ROE) is alarmingly low at -626.73%, reflecting poor profitability and financial health.
In comparison to its peers, NeuroOne's valuation ratios are concerning; for instance, LENSAR, Inc. has a worse EV to EBITDA of -12.34, while Singular Genomics Systems, Inc. shows a more favorable EV to EBITDA of 0.55. The stock's recent performance has lagged behind the S&P 500, with a year-to-date return of 8.96% compared to the S&P's 12.22%, suggesting that investors may be better served by looking elsewhere in the market.