Is Voyager Therapeutics, Inc. overvalued or undervalued?

As of 11 March 2025, the valuation grade for Voyager Therapeutics, Inc. has moved from expensive to risky, indicating a significant shift in its perceived value. The company appears to be overvalued given its negative financial metrics, with a Price to Book Value of 0.72, an EV to EBIT of 0.32, and an EV to EBITDA of 0.34. Comparatively, peers like Agenus, Inc. have a more favorable EV to EBITDA ratio of -6.0607, suggesting that Voyager is underperforming relative to its industry counterparts.
The stock has shown a mixed performance against the S&P 500, with a 1-week return of 2.40% compared to the index's 1.05%, but it has significantly lagged over longer periods, such as a 1-year return of -28.01% versus 17.14% for the S&P 500. This underperformance reinforces the view that Voyager Therapeutics, Inc. is currently overvalued, particularly in light of its negative return on equity of -31.06%.