AnaptysBio

Alphyn Capital disclosed a new late-Q2 position in AnaptysBio, which after an April separation is a stripped-down royalty business whose principal asset is a royalty on GSK’s cancer drug Jemperli. The royalty starts at 8% and rises to 25% on annual sales above $2.5 billion; Jemperli generated over $1.1 billion in 2025 and GSK targets more than $2.7 billion. Alphyn cited favorable Delaware court outcomes that reduced downside risk and bought shares around $59.50, valuing a base case at $55–65 and upside to $70–105 if commercialization obligations or royalty terms improve; a trial scheduled for July 14 could trigger a quicker resolution. » More on finance.yahoo.com

AnaptysBio completed the TRAX spinoff in April 2026 and now operates as a royalty management company overseeing its financial collaborations with GSK and Vanda. Piper Sandler lowered the price target to $93 from $95 on May 4 but kept an Overweight rating, citing the separation’s role in protecting and optimizing royalty value. The Delaware Chancery Court dismissed Tesaro’s anticipatory breach claim related to the Jemperli collaboration, supporting AnaptysBio’s position that it did not repudiate the agreement. » More on finance.yahoo.com

AnaptysBio’s stock rose to a 52-week high of $68.46 and is currently trading at $68.53, implying a market capitalization of about $1.96 billion and a year-to-date performance of 320.01%. The company announced the spin-off of First Tracks Biotherapeutics, to be completed on April 20, 2026; shareholders will receive one share of First Tracks for each AnaptysBio share. First Tracks raised $80 million in a private placement at $13.81 per share. The board approved a $100 million share buyback program; analyst price targets range from $66 to $95, while InvestingPro rates the stock as overvalued compared with its fair value. » More on de.investing.com