AnaptysBio Surges 8.6% on Royalty Pharma Deal and Legal Developments—What’s Fueling the Biotech Rally?

Summary
• Royalty Pharma and Teva’s $500M IL-15 deal boosts ANAB’s market position
• UBS reiterates Buy rating with $70 price target amid GSK litigation
• ANAB surges 8.59% to $48.51, hitting intraday high of $50.00

Biotech stock ANAB is surging on a confluence of strategic partnerships, analyst upgrades, and legal developments. The stock’s 8.6% rally reflects optimism around Teva’s IL-15 collaboration and UBS’s bullish stance, while ongoing litigation with GSK adds speculative intrigue. With a 52-week high of $52.47 in sight, investors are weighing the stock’s momentum against its volatile legal backdrop.

Royalty Pharma Deal and Legal Developments Drive ANAB Surge
AnaptysBio’s 8.6% intraday rally is fueled by two pivotal catalysts: Teva and Royalty Pharma’s $500M funding agreement for TEV-53408, which validates ANAB’s IL-15 therapeutic platform, and UBS’s reiterated $70 price target. The deal’s $75M upfront payment and $425M option for later-stage development signal strong industry confidence in ANAB’s pipeline. Meanwhile, the company’s motion to dismiss GSK’s breach-of-contract claim—scheduled for a March hearing—has reduced near-term legal uncertainty, allowing investors to focus on its clinical progress in celiac disease and vitiligo trials.

Biotech Sector Volatility Amid Strategic Collaborations and Legal Uncertainties
The biotech sector is mixed as companies navigate partnerships and litigation. Lilly’s $1B AI collaboration with Nvidia and Boston Scientific’s $1.2B acquisition of Valencia highlight strategic bets on innovation. ANAB’s rally aligns with sector trends, as its IL-15 partnership mirrors the sector’s focus on immune-modulating therapies. However, ANAB’s legal battle with GSK contrasts with peers like Amgen (AMGN), which saw a -0.26% intraday dip, underscoring sector-specific risks tied to litigation outcomes.

Options and ETF Strategies for ANAB’s Volatile Trajectory
• 200-day MA: $28.01 (well below current price)
• RSI: 41.34 (oversold territory)
• MACD: 0.68 (bullish divergence)
• Bollinger Bands: $41.79–$51.96 (current price near upper band)

ANAB’s technicals suggest a short-term bullish setup, with key resistance at $50.00 (52-week high) and support at $44.48 (intraday low). The stock’s 8.6% rally has pushed it into overbought territory, but strong RSI divergence and MACD momentum indicate potential for a continuation. For leveraged exposure, consider ANAB20260220C45 and ANAB20260220P50, which balance volatility and liquidity.

• ANAB20260220C45 (Call, $45 strike, 2026-02-20):
- IV: 34.78% (moderate)
- Delta: 0.73 (high sensitivity)
- Theta: -0.055 (moderate time decay)
- Gamma: 0.0596 (strong price sensitivity)
- Turnover: 1,985 (liquid)
- LVR: 12.04% (moderate leverage)
- Payoff at 5% upside ($50.94): $5.94/share
- Ideal for aggressive bulls capitalizing on momentum.

• ANAB20260220P50 (Put, $50 strike, 2026-02-20):
- IV: 45.03% (attractive)
- Delta: -0.58 (moderate bearish exposure)
- Theta: -0.002 (low time decay)
- Gamma: 0.0549 (responsive to price swings)
- Turnover: 0 (limited liquidity)
- LVR: 12.01% (moderate leverage)
- Payoff at 5% upside ($50.94): $0.94/share
- Suitable for hedging against a pullback.

Aggressive bulls may consider ANAB20260220C45 into a break above $50.00, while cautious investors should monitor the $45.00 support level.

Backtest AnaptysBio Stock Performance
The ANAB ETF has experienced a 9% intraday surge from 2022 to the present date. Backtesting the performance of ANAB after this surge reveals a positive short-to-medium-term trend. The 3-day win rate is 49.04%, the 10-day win rate is 51.17%, and the 30-day win rate is 54.35%. Additionally, the maximum return during the backtest period was 9.41%, which occurred on day 59 after the surge. These results suggest that ANAB has a favorable outlook following the intraday surge, with a higher probability of positive returns in the short to medium term.

Position for ANAB’s Legal and Partnership-Driven Momentum
ANAB’s rally is a high-stakes play on its IL-15 partnership and legal developments. The stock’s 8.6% surge suggests near-term optimism, but investors must balance this with the July 2026 trial date against GSK. Key levels to watch: $50.00 (52-week high) and $44.48 (intraday low). For context, sector leader Amgen (AMGN) fell -0.26% intraday, highlighting sector-wide volatility. Aggressive traders should target ANAB20260220C45 for a bullish breakout, while hedging with ANAB20260220P50. Watch the March motion hearing and March 9 earnings report for directional clarity.