Is Pulmatrix, Inc. overvalued or undervalued?

As of 6 August 2025, the valuation grade for Pulmatrix, Inc. has moved from risky to does not qualify, indicating a significant deterioration in its investment appeal. The company appears to be overvalued given its current financial metrics, including a Price to Book Value of 4.54 and negative ratios for EV to EBIT and EV to EBITDA at -2.54 and -2.59, respectively. Additionally, the Return on Equity (ROE) stands at a staggering -170.58%, further highlighting the company's struggles.
In comparison to its peers, Pulmatrix's valuation ratios are less favorable; for instance, Cyclerion Therapeutics, Inc. has an EV to EBITDA of -1.2082, while Sunshine Biopharma, Inc. shows a more manageable EV to EBITDA of 0.7084. The stock has had a mixed performance against the S&P 500, with a 1-year return of 131.13% compared to the index's 17.14%, but it has underperformed significantly year-to-date with a return of -29.80% against the S&P 500's 12.22%. Overall, these factors suggest that Pulmatrix, Inc. is currently overvalued.