Is uniQure NV overvalued or undervalued?

As of 8 August 2022, the valuation grade for uniQure NV moved from fair to risky, indicating a deterioration in its investment appeal. The company appears to be overvalued given its significant negative financial metrics, including a Price to Book Value of 28.07 and an EV to EBITDA of -6.16. Additionally, its return on equity (ROE) stands at a staggering -666.88%, further highlighting its struggles.
In comparison to its peer, Precigen, Inc., which has a worse EV to EBITDA ratio of -13.1325, uniQure's valuation metrics still suggest it is not a favorable investment. The company's recent stock performance has been disappointing, with a year-to-date return of -16.53% compared to the S&P 500's positive return of 12.22%, reinforcing the notion that uniQure is currently overvalued.