HOWL
Werewolf Therapeutics, Inc.Healthcare·Biotechnology
$0.45
$22M market cap
Revenue
$0.0M
Free Cash Flow
$-21.6M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Werewolf Therapeutics, Inc., a biopharmaceutical company, develops therapeutics engineered to stimulate the body's immune system for the treatment of cancer. The company, through its proprietary PREDATOR platform, designs conditionally activated molecules that stimulate adaptive and innate immunity for addressing the limitations of conventional proinflammatory immune therapies. Its lead product candidates are WTX-124, a conditionally activated Interleukin-2 INDUKINE molecule for the treatment of
2-Year Price History
$0.44-87.4%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -8.6 | -9.0 | -13.5 | -10.6 | -10.6 | -0.0 | 46.5 | 37.7 | 49.4 | -95.3% | -6.3x | -- |
| Act | 2025-Q4 | 0.0 | -6.6 | -9.4 | -8.4 | -11.0 | -11.0 | -0.0 | 57.1 | 37.7 | 46.8 | -82.4% | -4.8x | -- |
Valuation & Metrics
Market Stats
Price$0.45
Market Cap$22M
Enterprise Value$13M
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-98.9%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-21.9M
Free Cash Flow$-21.6M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-88.8%
WC Change % Rev0.0%
Interest Coverage-5.5x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.7M
Days to Cover2.4
Change (vs Prior)-7.7%
Need at least 2 settlement dates for chart
Employees
Headcount46
Revenue / Employee$0
Gross Profit / Employee$-8,652
Cash Runway
25.8months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
47.8%(-59.3% YoY)
38 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
8.4%(-13.7% YoY)
7 filers
Vanguard, iShares, SPDR
Market makers
0.3%(+0.1% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. | $5.6M | $2.26 | +$0 | +$447K | -4.4% | $9.44B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $1.0M | $0.83 | +$1.0M | +$1.0M | — | $4.04T |
| MPM BioImpact LLC | $1.0M | $0.97 | −$154K | −$999K | -1.7% | $1.29B |
| Lynx1 Capital Management LP | $548K | $0.63 | +$2K | +$548K | +3.0% | $633M |
| SPHERA FUNDS MANAGEMENT LTD. | $522K | $4.38 | +$0 | +$0 | -9.9% | $575M |
| DC Funds, LP | $490K | $4.09 | +$0 | +$0 | -10.9% | $1.5M |
| Squadron Capital Management LLC | $469K | $0.83 | +$469K | +$469K | +17.7% | $250M |
| RENAISSANCE TECHNOLOGIES LLC | $430K | $1.61 | −$135K | +$377K | +1.2% | $63.91B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $324K | $2.79 | +$45K | −$273K | +2.3% | $1.61T |
| BANK OF AMERICA CORP /DE/ | $220K | $2.49 | −$394K | −$1.5M | -0.1% | $1.36T |
| VANGUARD FIDUCIARY TRUST COPassive | $131K | $0.83 | +$131K | +$131K | — | $395.83B |
| MILLENNIUM MANAGEMENT LLC | $110K | $2.88 | −$90K | −$543K | -0.5% | $127.40B |
| STATE STREET CORPPassive | $99K | $2.45 | +$0 | −$271K | -0.2% | $2.89T |
| BlackRock, Inc.Passive | $85K | $2.10 | −$0 | −$1.3M | -0.2% | $5.69T |
| NORTHERN TRUST CORPPassive | $72K | $2.13 | +$0 | −$143K | -0.2% | $755.34B |
| Alyeska Investment Group, L.P. | $72K | $2.81 | −$124K | −$124K | -0.5% | $35.33B |
| JANE STREET GROUP, LLCMM | $69K | $2.63 | −$62K | +$69K | -0.1% | $92.10B |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $64K | $2.21 | +$0 | +$31K | -2.3% | $4.93B |
| UBS Group AG | $56K | $1.26 | +$5K | +$41K | -0.3% | $562.11B |
| XTX Topco Ltd | $42K | $1.42 | +$22K | +$42K | -1.9% | $5.74B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-2.76%
avg per quarter
Holders (ex-self)
-2.68%
excl. this stock
Buyers (this Q)
+12.85%
16 buyers · $0.00B in
Sellers (this Q)
-0.06%
14 sellers · $0.00B out
alpha coverage: 90% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-20.5%
how holders react when this stock falls
On quiet Qs
+92.6%
−10% to +10% baseline
On rallies (+10%+)
+8.6%
how they react when this stock rises
Holders' portfolio flow this Q
+3.3%
inflows — adds are organic
Sellers' portfolio flow this Q
-4.1%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+0.0%
Holder mid (any stock)
-2.7%
Holder rally (any stock)
+1.3%
Biggest decreases this quarter
BANK OF AMERICA CORP /DE/−$394Kα-0.1MPM BioImpact LLC−$154Kα-1.7RENAISSANCE TECHNOLOGIES LLC−$135Kα+1.2Alyeska Investment Group, L.P.−$124Kα-0.5MILLENNIUM MANAGEMENT LLC−$90Kα-0.5SUSQUEHANNA INTERNATIONAL GROUP, LLPexited−$63KJANE STREET GROUP, LLC−$62Kα-0.1Vontobel Holding Ltd.exited−$38KRegal Investment Advisors LLCexited−$33KEDGEWOOD MANAGEMENT LLCexited−$32K
New buyers this quarter
Top-5 holders · 74.3%
RA CAPITAL MANAGEMENT, L.P.--
VANGUARD CAPITAL MANAGEMENT LLC--
MPM BioImpact LLC--
Lynx1 Capital Management LP--
SPHERA FUNDS MANAGEMENT LTD.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
RA CAPITAL MANAGEMENT, L.P.6.7MMPM ASSET MANAGEMENT LLC—DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)—MPM BioImpact LLC1.2MPartner Fund Management, L.P.—ADAGE CAPITAL PARTNERS GP, L.L.C.—BANK OF AMERICA CORP /DE/265KSPHERA FUNDS MANAGEMENT LTD.627KAvidity Partners Management LP—JANUS HENDERSON GROUP PLC—
Analyst Coverage
Analyst Coverage
Price Targets
Last Year (1 analysts)$1.0012220.0%
Current Price$0.45
Analyst Ratings
9
Buy: 9Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$2.88M
71 txns · 1 insider · 3,354,413 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$4.84M
59 txns · 3 insiders · 4,434,285 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-20 | SELL | EVNIN LUKE | director | 85,895 | $0.43 | $37K | $411K |
| 2026-05-19 | SELL | EVNIN LUKE | director | 62,970 | $0.45 | $28K | $469K |
| 2026-05-18 | SELL | EVNIN LUKE | director | 22,184 | $0.50 | $11K | $552K |
| 2026-05-13 | SELL | EVNIN LUKE | director | 44,679 | $0.54 | $24K | $608K |
| 2026-05-12 | SELL | EVNIN LUKE | director | 67,885 | $0.64 | $43K | $750K |
| 2026-05-12 | SELL | RA CAPITAL MANAGEMENT, L.P. | 10 percent owner | 101,151 | $0.64 | $65K | $260K |
| 2026-05-11 | SELL | EVNIN LUKE | director | 33,948 | $0.67 | $23K | $830K |
| 2026-05-11 | SELL | RA CAPITAL MANAGEMENT, L.P. | 10 percent owner | 87,490 | $0.67 | $59K | $277K |
| 2026-05-08 | SELL | EVNIN LUKE | director | 305,741 | $0.70 | $214K | $891K |
| 2026-05-08 | SELL | RA CAPITAL MANAGEMENT, L.P. | 10 percent owner | 376,526 | $0.71 | $267K | $297K |
| 2026-05-07 | SELL | EVNIN LUKE | director | 79,086 | $0.63 | $50K | $995K |
| 2026-05-06 | SELL | EVNIN LUKE | director | 14,635 | $0.66 | $10K | $1.09M |
| 2026-05-05 | SELL | EVNIN LUKE | director | 6,860 | $0.69 | $5K | $1.15M |
| 2026-05-04 | SELL | EVNIN LUKE | director | 47,963 | $0.72 | $35K | $1.21M |
| 2026-05-01 | SELL | EVNIN LUKE | director | 58,394 | $0.73 | $43K | $1.26M |
| 2026-04-30 | SELL | EVNIN LUKE | director | 168,262 | $0.72 | $121K | $1.29M |
| 2026-04-29 | SELL | EVNIN LUKE | director | 56,559 | $0.69 | $39K | $1.35M |
| 2026-04-28 | SELL | EVNIN LUKE | director | 95,412 | $0.73 | $70K | $1.47M |
| 2026-04-27 | SELL | EVNIN LUKE | director | 53,940 | $0.85 | $46K | $1.79M |
| 2026-01-16 | SELL | EVNIN LUKE | director | 38,782 | $0.54 | $21K | $1.17M |
Order Flow (FINRA, ~3w lag)
45.6%retail-5.6pp
11.0%dark+0.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Werewolf Therapeutics: A Howling Going Concern with Toxic Debt
Overall Risk
9/10
Fraud
3/10
Dilution
8/10
Insolvency
9/10
Earnings Overstated
2/10
Hidden Liabilities
5/10
Legal
3/10
Audit Warnings
9/10
Hidden Upside
2/10
Contextually Acceptable
3/10