Werewolf Therapeutics, Inc. (HOWL) AI Stock Analysis

Werewolf Therapeutics, Inc., established in 2017 and headquartered in Cambridge, Massachusetts, specializes in developing cancer therapeutics using its proprietary PREDATOR platform. The platform designs conditionally activated molecules engineered to stimulate adaptive and innate immunity while mitigating issues tied to traditional proinflammatory immune treatments. Its clinical pipeline features lead candidates WTX-124, an Interleukin-2 INDUKINE molecule for advanced solid tumors, and WTX-330, an Interleukin-12 INDUKINE molecule targeted at relapsed or refractory advanced solid tumors or lymphoma. The company is also advancing WTX-613, an interferon alpha INDUKINE molecule addressing solid tumors and hematologic malignancies.

Revenue has shown substantial volatility, starting at $4.1M in FY2021, rising to $16.4M in FY2022 and $19.9M in FY2023, before plunging 90.5% to $1.9M in FY2024. Over the 3-year period from FY2021 to FY2024, revenue CAGR was -23.1%. Net losses widened from -$49.8M in FY2021 to -$70.5M in FY2024, driven by elevated research and development spending of $56.4M in FY2024. For the trailing twelve months, revenue was $21.0M with an operating margin of 40.6% and a net margin of -164.8%. In the latest quarter ending June 30, 2026, quarterly revenue growth fell 100.0% year-over-year.

As of June 30, 2026, Werewolf Therapeutics held $22.0M in cash and short-term investments, out of total assets of $24.2M. Shareholders' equity was $16.3M, and the company reported a current ratio of 2.91. Operations have consistently consumed cash, with free cash flow of -$56.4M and operating cash flow of -$56.2M in FY2024. Over a 5-year period through FY2025, the company expanded its share count by 78.2%.

At a last close of $0.98 on October 16, 2026, Werewolf Therapeutics had an enterprise value of $26.1M and a market capitalization of $47.6M. The stock traded at a price-to-sales multiple of 2.3x and an EV-to-EBITDA multiple of 0.6x, compared to medians of 4.1x and 12.0x, respectively, for its US-listed Healthcare peers. Its price-to-book stood at 3.0x. Over the past year, the stock dropped 41.3%, trailing the S&P 500 (SPY) gain of 16.8%, and over five years it fell 94.3% while the SPY gained 83.0%.

Analysts have a mean price target of $7.00 for HOWL, representing an implied upside of 614.3% over the last close of $0.98. For the current fiscal year ending December 31, 2026, the consensus EPS estimate is -$0.89 on estimated revenue of $0. For the next fiscal year, 1 analyst expects an EPS of -$0.59 on revenue of $0. The company beat EPS estimates in all 4 of the last 4 quarters. The next earnings date is November 3, 2026.

This page is an AI-written research summary of Werewolf Therapeutics, Inc. (HOWL). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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