Is VolitionRX Ltd. overvalued or undervalued?

As of 14 November 2024, VolitionRX Ltd. has moved from a "does not qualify" to a "risky" valuation grade. The company is currently overvalued, as indicated by its negative financial ratios, including a Price to Book Value of -2.06 and an EV to EBITDA of -2.67. The P/E ratio is not applicable due to the company being loss-making, further underscoring its precarious financial position.
In comparison to its peers, VolitionRX Ltd. has a less favorable EV to EBITDA ratio than Perspective Therapeutics, Inc. at -0.7262 and Monogram Orthopaedics, Inc. at -5.8685, both of which also carry a "risky" valuation. The company's recent stock performance has outpaced the S&P 500 over the past month, with a return of 66.85% compared to the index's 3.83%, but this does not mitigate the underlying valuation concerns.