Bank of America Cuts Werewolf Therapeutics (NASDAQ:HOWL) Price Target to $8.00

Key Points

• Bank of America has lowered its target price for Werewolf Therapeutics (NASDAQ:HOWL) from $9.00 to $8.00, while maintaining a "buy" rating, indicating a potential upside of 483.94% from the previous close.
• Werewolf Therapeutics saw a stock price increase, trading up to $1.37, with recent trading volume of 75,606 shares compared to its average of 357,033.
• Institutional investors hold 64.84% of the company's stock, reflecting positive investment interest despite recent price adjustments by analysts.

Werewolf Therapeutics (NASDAQ:HOWL - Get Free Report) had its price objective lowered by equities research analysts at Bank of America from $9.00 to $8.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock.

A number of other analysts have also issued reports on HOWL. JMP Securities reduced their target price on Werewolf Therapeutics from $4.00 to $3.00 and set a "market outperform" rating for the company in a report on Thursday, August 21st. Wedbush reduced their target price on Werewolf Therapeutics from $8.00 to $6.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $8.00.

Werewolf Therapeutics Price Performance

Shares of NASDAQ:HOWL traded down $0.08 on Monday, reaching $1.31. 138,288 shares of the company traded hands, compared to its average volume of 133,397. Werewolf Therapeutics has a fifty-two week low of $0.60 and a fifty-two week high of $4.18. The company's 50 day moving average is $1.24 and its 200-day moving average is $1.14. The stock has a market capitalization of $59.90 million, a PE ratio of -0.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.30 and a quick ratio of 5.30.

Werewolf Therapeutics (NASDAQ:HOWL - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.40) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.10. As a group, analysts anticipate that Werewolf Therapeutics will post -1.56 earnings per share for the current fiscal year.

Institutional Trading of Werewolf Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bridgeway Capital Management LLC raised its holdings in shares of Werewolf Therapeutics by 157.7% during the second quarter. Bridgeway Capital Management LLC now owns 102,000 shares of the company's stock worth $111,000 after acquiring an additional 62,414 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Werewolf Therapeutics by 1.2% during the second quarter. Bank of America Corp DE now owns 2,129,024 shares of the company's stock worth $2,321,000 after acquiring an additional 25,882 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Werewolf Therapeutics during the second quarter worth $409,000. Qube Research & Technologies Ltd purchased a new stake in shares of Werewolf Therapeutics during the second quarter worth $48,000. Finally, Marshall Wace LLP purchased a new stake in shares of Werewolf Therapeutics during the second quarter worth $113,000. 64.84% of the stock is currently owned by hedge funds and other institutional investors.

About Werewolf Therapeutics

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.