Is TriSalus Life Sciences, Inc. overvalued or undervalued?

As of 9 February 2023, the valuation grade for TriSalus Life Sciences, Inc. moved from does not qualify to risky. The company appears to be overvalued given its negative financial ratios, including a price to book value of -5.93 and an EV to EBITDA of -7.25. The negative return on capital employed and return on equity further underscore the financial challenges facing the company.
In comparison to its peers, TriSalus's P/E ratio is -5.43, while Altimmune, Inc. has a P/E of -6.19 and Harpoon Therapeutics, Inc. shows a much larger negative P/E of -28.51. The overall market sentiment reflects poorly on TriSalus, as evidenced by its recent stock performance, which has underperformed the S&P 500 across various time frames, including a 1-year return of -7.03% compared to the S&P 500's 10.26%.