Red Riding Hood.

Valerie is in love with a brooding outsider, Peter, but her parents have arranged for her to marry another man. Unwilling to lose each other, Valerie and Peter plan to run away together when Valerie's older sister is killed by a werewolf that prowls the dark forest surrounding their village. Panic grips the town as Valerie discovers that she has a unique connection to the beast--one that inexorably draws them together, making her both suspect ... and bait.