Werewolf Therapeutics initiated with Outperform, $9 target at Wedbush

Wedbush last night initiated coverage of Werewolf Therapeutics with an Outperform rating and $9 price target. The company is is developing conditionally-activated cytokines that leverage its proprietary Predator platform for the treatment of solid tumors, the analyst tells investors in a research note. The firm believes Werewolf’s Indukine technology has the potential to overcome the toxicity/delivery challenges that have limited development of current cytokine based approaches. It says the company’s initial focus on IL-2 and other proinflammatory cytokines allows for a high likelihood of success.