SCHEDULE: Longwood Fund III Amends Werewolf Therapeutics Stake

Longwood Fund III GP, LLC and Longwood Fund III, L.P. have updated their beneficial ownership in Werewolf Therapeutics, Inc. to 3.5% as of December 31, 2025.

Summary

• Longwood Fund III GP, LLC and Longwood Fund III, L.P. (the "Reporting Persons") have filed an Amendment No. 1 to their Schedule 13G regarding their beneficial ownership in Werewolf Therapeutics, Inc.
• As of December 31, 2025, the Reporting Persons collectively beneficially own 1,677,082 shares of Werewolf Therapeutics, Inc. Common Stock.
• This ownership represents 3.5% of the Issuer's outstanding Common Stock.
• The percentage is based on 48,540,200 shares of Common Stock outstanding as of October 29, 2025, as reported by Werewolf Therapeutics, Inc. in its Form 10-Q for the quarter ended September 30, 2025, filed on November 4, 2025.
• Longwood Fund III GP, LLC is the general partner of Longwood Fund III, L.P. and may be deemed to share voting and dispositive power over these securities.
• The Reporting Persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, indicating continued institutional investment in Werewolf Therapeutics, Inc. The passive nature of the stake (below 5%) suggests a long-term, non-activist position.

Positives

• The continued holding of a 3.5% stake by Longwood Fund III indicates ongoing institutional investor confidence in Werewolf Therapeutics, Inc.

Negatives

• NA

Risks

• NA

Future Outlook

This filing does not contain any forward-looking statements or guidance from Werewolf Therapeutics, Inc. or the Reporting Persons regarding the issuer's future performance.

Industry Context

StockSavvy.ai notes that a 3.5% stake, while significant for an institutional investor, falls below the 5% threshold that typically triggers more active investor engagement or a Schedule 13D filing. This suggests Longwood Fund III maintains a passive investment approach in Werewolf Therapeutics, Inc., aligning with its role as a venture capital fund that often takes early-stage positions.

Comparison to Industry Standards

• This filing primarily concerns an institutional ownership stake rather than company performance metrics, making direct comparisons to industry-standard operational or financial benchmarks less relevant.
• However, institutional ownership by venture capital funds like Longwood Fund III is common in the biotechnology sector for companies like Werewolf Therapeutics, Inc., which are often in development stages and require significant capital and strategic backing.

Stakeholder Impact

• Shareholders: The continued institutional ownership by Longwood Fund III may be viewed positively, signaling confidence in the company's long-term prospects.
• Company Management: Awareness of a significant institutional holder can influence strategic decisions, though the passive nature of this stake suggests no immediate pressure for control changes.

Key Dates

Recommendation

This Schedule 13G Amendment primarily updates an existing passive institutional ownership stake. It does not provide new financial performance data, strategic shifts, or material events from Werewolf Therapeutics, Inc. that would warrant a change in investment recommendation. The 3.5% stake, while notable, is below the threshold for active influence, suggesting a 'hold' position is appropriate based solely on this informational filing.

Keywords

Werewolf Therapeutics, Longwood Fund III, Beneficial Ownership, WW, SEC Filing, Institutional Investor, Common Stock, Biotechnology