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

As of 12 August 2021, the valuation grade for Seer, Inc. has moved from does not qualify to risky. The company appears to be overvalued given its negative financial metrics, including a Price to Book Value of 0.43, an EV to EBITDA ratio of 1.15, and a ROE of -27.61%. Comparatively, peers such as Harpoon Therapeutics, Inc. show a much higher EV to EBITDA of -13.41, indicating that Seer, Inc. is not only underperforming but also carries a higher risk profile.
In terms of recent performance, Seer, Inc. has outperformed the S&P 500 over the past year with a return of 24.29% compared to the index's 17.14%. However, the long-term outlook is concerning, as evidenced by a staggering 3-year return of -74.03% against the S&P 500's 70.41%, reinforcing the notion that the company is currently overvalued.