Werewolf Therapeutics (HOWL)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	66.61 mm	66.61 mm	66.61 mm	66.61 mm	66.61 mm	66.61 mm
Cash burn (monthly)	3.96 mm	4.79 mm	5.24 mm	5.97 mm	5.05 mm	5.29 mm
Cash used (since last report)	17.00 mm	20.55 mm	22.50 mm	25.62 mm	21.69 mm	22.72 mm
Cash remaining	49.61 mm	46.06 mm	44.11 mm	40.99 mm	44.92 mm	43.88 mm
Runway (months of cash)	12.5	9.6	8.4	6.9	8.9	8.3

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2024

HOWL institutional ownership history Ownership history

82.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	81	75	+8.0%
Opened positions	13	14	-7.1%
Closed positions	7	15	-53.3%
Increased positions	29	26	+11.5%
Reduced positions	14	13	+7.7%

13F shares	Current	Prev Q	Change
Total value	41.34 bn	67.68 bn	-38.9%
Total shares	40.14 mm	44.17 mm	-9.1%
Total puts	27.00 k	500.00	+5300.0%
Total calls	29.30 k	700.00	+4085.7%
Total put/call ratio	0.9	0.7	+29.0%

Largest owners	Shares	Value	Change
Ra Capital Management	6.14 mm	$9.09 bn	0.0%
MPM Asset Management	4.28 mm	$6.34 bn	0.0%
MPM BioVentures 2014	3.21 mm	$51.53 mm	0.0%
Partner Fund Management	2.91 mm	$4.30 bn	-14.5%
MPM Oncology Impact Management	2.39 mm	$3.53 bn	0.0%
BAC Bank of America	2.08 mm	$3.08 bn	-3.5%
Taiho Ventures	2.07 mm	$33.17 mm	0.0%
Arkin Moshe	2.05 mm	$0.00	0.0%
Adage Capital Management	2.00 mm	$5.38 mm	0.0%
BLK BlackRock	1.70 mm	$2.52 bn	+3.9%

Largest transactions	Shares	Bought/sold	Change
Adage Capital Partners GP, L.L.C.	0.00	-2.00 mm	EXIT
Millennium Management	596.29 k	-727.48 k	-55.0%
Eagle Health Investments	0.00	-700.00 k	EXIT
Partner Fund Management	2.91 mm	-493.28 k	-14.5%
Two Sigma Advisers	139.10 k	-117.20 k	-45.7%
Point72 Asset Management	0.00	-109.82 k	EXIT
Renaissance Technologies	56.90 k	-95.30 k	-62.6%
Two Sigma Investments	93.44 k	-87.17 k	-48.3%
Deutsche Bank AG - Registered Shares	101.63 k	+83.17 k	+450.7%
BAC Bank of America	2.08 mm	-74.84 k	-3.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

HOWL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
16 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.54	38,782	20.94 k	2,159,860
15 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.55	37,413	20.58 k	2,198,642
14 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.57	30,616	17.45 k	2,236,055
13 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.55	43,198	23.76 k	2,266,671
12 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.57	58,980	33.62 k	2,309,869
9 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.61	24,678	15.05 k	2,368,849
8 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.63	7,716	4.86 k	2,393,527
7 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.64	11,915	7.63 k	2,401,243
6 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.65	40,761	26.49 k	2,413,158
5 Jan 26	Evnin Luke	Common Stock	Sell	Dispose S	Yes	Yes	0.64	18,378	11.76 k	2,453,919

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.