Form 4: Werewolf Therapeutics Director Sells Shares

Luke Evnin, a Director and 10% owner of Werewolf Therapeutics, Inc., reported sales of common stock totaling 78,377 shares across three transactions in late 2025 and early 2026 under a Rule 10b5-1 plan.

Summary

• Luke Evnin, a Director and 10% Owner of Werewolf Therapeutics, Inc. (HOWL), reported the sale of common stock.
• The transactions were executed pursuant to a Rule 10b5-1 plan established on September 24, 2025.
• On December 30, 2025, 34,847 shares were sold at a weighted average price of $0.61 per share, leaving 2,515,827 shares beneficially owned.
• On December 31, 2025, 24,962 shares were sold at a weighted average price of $0.62 per share, leaving 2,490,865 shares beneficially owned.
• On January 02, 2026, 18,568 shares were sold at a weighted average price of $0.63 per share, leaving 2,472,297 shares beneficially owned.
• The shares are indirectly held through various MPM entities, including MPM Asset Management LLC, MPM BioVentures 2014, L.P., MPM BioVentures 2014(B), L.P., MPM Asset Management Investors BV2014 LLC, and MPM Oncology Innovations Fund, L.P.
• Luke Evnin disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: Neutral, as this is a routine insider transaction filing under a pre-established plan, which typically does not convey strong positive or negative sentiment about the company's immediate prospects.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Luke Evnin, a Director and 10% owner of Werewolf Therapeutics, Inc., executed sales of common stock through entities where he holds indirect beneficial ownership. These entities include MPM Asset Management LLC, MPM BioVentures 2014, L.P., MPM BioVentures 2014(B), L.P., MPM Asset Management Investors BV2014 LLC, and MPM Oncology Innovations Fund, L.P.

Stakeholder Impact

• Shareholders may note a director's reduction in indirect holdings, though the sales were pre-scheduled under a 10b5-1 plan, which generally mitigates concerns about opportunistic selling.

Key Dates

Recommendation

The filing reports pre-scheduled sales by a director and 10% owner under a Rule 10b5-1 plan. Such transactions are generally considered routine and do not typically signal a change in the company's fundamental outlook or warrant an immediate shift in investment strategy. Investors should consider broader company performance and market conditions rather than solely this insider transaction.

Keywords

Werewolf Therapeutics, HOWL, Luke Evnin, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Director, Beneficial Ownership