Is TScan Therapeutics, Inc. overvalued or undervalued?

As of 10 November 2021, the valuation grade for TScan Therapeutics, Inc. moved from does not qualify to risky, indicating a heightened level of uncertainty regarding its financial health. The company appears to be overvalued given its significant losses and the valuation ratios, including a Price to Book Value of 0.48, an EV to EBIT of 0.81, and an EV to EBITDA of 0.83, which suggest that the market may not be pricing in the risks adequately.
In comparison to its peers, TScan's EV to EBITDA ratio of 0.83 is more favorable than Heron Therapeutics, Inc.'s -199.2793, but still lags behind TriSalus Life Sciences, Inc.'s -6.9780. The company's recent stock performance has been poor, with a year-to-date return of -43.42% compared to the S&P 500's 12.22%, reinforcing the notion that TScan is currently overvalued in the market.