Is Pacific Biosciences of California, Inc. overvalued or undervalued?

As of 29 April 2021, the valuation grade for Pacific Biosciences of California, Inc. moved from fair to risky, indicating a deterioration in its investment appeal. The company appears to be overvalued given its negative financial metrics, with a Price to Book Value of 3.73, an EV to EBIT of -1.06, and an EV to EBITDA of -3.29. Comparatively, its peer, which has a valuation of risky, shows a P/E of -0.6779 and an EV to EBITDA of -4.2891, further highlighting the company's relative weakness.
The company's recent stock performance has been significantly underwhelming, with a year-to-date return of -30.05% compared to the S&P 500's 12.22%, and a staggering decline of -84.26% over the past five years against the S&P 500's 96.61% gain. This stark contrast reinforces the view that Pacific Biosciences is overvalued in its current state.