Werewolf Therapeutics Inc (HOWL) Fair Value & Analysis

Healthcare · US · Market cap $19.7M

Below-average quality, and screening another 28% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($0.3600). The favourable scenario is already priced in.
• Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
• A fairly wide model range ($0.1900 to $0.3600) leaves room in how you read the outcome.
• Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range $0.3080 – $20.31 · fair‑value band $0.1900 – $0.3600 · the $0.4055 price screens above the $0.2900 fair value. Dashed = 300-day average. As of Aug 18, 2026.

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Analysis

Werewolf Therapeutics Inc (HOWL) currently trades at $0.4055, while our model-based Fair Value estimate is $0.2900, implying the stock looks roughly 28.5% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

The balance sheet holds a net cash position of $48.5M. Fundamentals as of Aug 18, 2026

Our scenario range runs from $0.1900 (bear case) to $0.3600 (bull case); at $0.4055, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Healthcare peers we cover trades at -47% fair-value upside, at -28%, HOWL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Key figures & financial health

Quality Score breakdown

About the company

Werewolf Therapeutics, Inc., a biopharmaceutical company, engages in the development of therapeutics engineered to stimulate the body's immune system for the treatment of cancer and other immune-mediated conditions.

Full company description

Werewolf Therapeutics, Inc., a biopharmaceutical company, engages in the development of therapeutics engineered to stimulate the body's immune system for the treatment of cancer and other immune-mediated conditions. The company designs conditionally activated molecules that stimulate adaptive and innate immunity for addressing the limitations of conventional proinflammatory immune therapies through its proprietary PREDATOR platform. Its lead product candidates are WTX-124, a conditionally activated Interleukin-2 INDUKINE molecule for the treatment of advanced or metastatic solid tumors; and WTX-330, a conditionally activated Interleukin-12 INDUKINE molecule for the treatment of advanced or metastatic solid tumors and lymphoma. The company is also developing JZP898, a conditionally activated interferon alpha INDUKINE molecule for the treatment of cancer; WTX-921, a conditionally activated IL-10 INDUKINE molecule for the treatment of inflammatory bowel disease and potentially other inflammatory diseases; and WTX-712, an activated Interleukin-21(IL-21) and WTX-518, an activated IL-18 (IL-18) INDUKINE molecule for the treatment of cancer. In addition, it develops WTX-1011, a conditionally activated INDUCER T cell engager molecule that targets STEAP 1 for prostate cancer, as well as WTX-2022 that targets CDH6 for ovarian and kidney cancer. Werewolf Therapeutics, Inc. was incorporated in 2017 and is headquartered in Watertown, Massachusetts.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Werewolf Therapeutics Inc reported revenue of $0 in FY2025 versus $4.1M in FY2021. Reported net income was −$60.8M in FY2025.

HOWL screens 28% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

Peer Group

Biotechnology · 599 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Biotechnology median · lower = cheaper

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.