UPDATE: Jefferies Starts Werewolf Therapeutics Inc. (HOWL) at Buy, 'Call of the Wild-Type IL-2'

Jefferies analyst Chris Howerton initiates coverage on Werewolf Therapeutics Inc. (NASDAQ: HOWL) with a Buy rating and a price target of $22.00.

The analyst comments "Potent cytokines, such as IL-2, are great cancer drugs in theory, but hard to execute in practice. HOWL's lead asset '124 is a conditionally activated wild-type IL-2 molecule, which we think will differentiate from the crowd of non-alpha IL-2 players. '124 will enter the clinic next year, generate initial data in '23 and accounts for ~2/3 of our valuation. Follow-on assets (eg '330/IL-12), follow a similar playbook to support growth. Initiate at BUY w/ $22 PT."

For an analyst ratings summary and ratings history on Werewolf Therapeutics Inc. click here. For more ratings news on Werewolf Therapeutics Inc. click here.

Shares of Werewolf Therapeutics Inc. closed at $12.18 yesterday.

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