Is Xencor, Inc. overvalued or undervalued?

As of 23 February 2023, Xencor, Inc. has moved from a fair to a risky valuation grade. The company appears to be overvalued given its negative financial metrics, including a Price to Book Value of 1.07, an EV to Sales ratio of 2.95, and a troubling ROCE of -50.84%. In comparison to peers, Xencor's EV to EBITDA ratio of -2.42 is significantly worse than Vir Biotechnology, Inc. at -0.0645 and Maravai Lifesciences Holdings, Inc. at -15.5085, indicating a challenging position within the industry.
Additionally, Xencor's stock has underperformed relative to the S&P 500, with a year-to-date return of -56.35% compared to the index's gain of 12.22%. This stark contrast reinforces the notion that Xencor is currently overvalued in light of its financial performance and relative standing among its peers.