Is Seer, Inc. (California) overvalued or undervalued?

As of 12 August 2021, Seer, Inc. (California) has moved from a valuation grade of "does not qualify" to "risky." The company is currently considered overvalued given its financial metrics and performance. Key ratios include a Price to Book Value of 0.43, an EV to EBIT of 1.08, and an ROE of -27.61%.
In comparison to its peers, Seer, Inc. has a significantly higher EV to EBITDA ratio than Altimmune, Inc. at -4.1741 and Harpoon Therapeutics, Inc. at -13.4119, indicating a relative overvaluation in the context of its financial health. Additionally, the stock has underperformed against the S&P 500 over various periods, notably with a year-to-date return of -14.72% compared to the S&P 500's 2.44%. This further reinforces the conclusion that Seer, Inc. is overvalued in its current state.