Is OmniAb, Inc. overvalued or undervalued?

As of 20 May 2022, OmniAb, Inc. has moved from a valuation grade of "does not qualify" to "risky." The company is currently considered overvalued. Key ratios include a Price to Book Value of 0.67, an EV to EBIT of -2.01, and an EV to EBITDA of -2.83, all indicating significant financial distress.
In comparison to peers, OmniAb's valuation metrics are starkly lower; for instance, BrightView Holdings, Inc. has a P/E ratio of 18.83, while CRA International, Inc. shows a P/E of 24.60, highlighting the disparity in valuation. Additionally, OmniAb's recent stock performance has been poor, with a year-to-date return of -54.52%, significantly underperforming the S&P 500's 2.44% return in the same period.