Vault-13

HERON THERAPEUTICS INC HRTX

COM · Common Stock · CUSIP 427746102

185 institutional holders
121,795,152121.8m shares reported held*
102.4% of all shares outstanding*
$513.6mreported value*

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.0k this quarter). Holder counts are more reliable. Shares outstanding: 118.9m as of 2022-11-01, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $4.22. Options: 7 managers hold calls ($593.0k notional), 5 hold puts ($487.0k).

Biggest calls

CSS LLC/IL — $195.0k46.2k shares
CITADEL ADVISORS LLC — $175.0k41.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP — $137.0k32.4k shares
JANE STREET GROUP, LLC — $51.0k12.1k shares
SIMPLEX TRADING, LLC — $22.0k5.3k shares
GROUP ONE TRADING LLC — $13.0k3.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. — $00 shares

Biggest puts

SIMPLEX TRADING, LLC — $245.0k58.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP — $148.0k35.1k shares
CITADEL ADVISORS LLC — $91.0k21.6k shares
GROUP ONE TRADING LLC — $3.0k800 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. — $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Rubric Capital Management LP 13D · may seek influence -1.6 pts · filed 2025-10-17
Stated purposeOn October 15, 2025, the Issuer filed a Current Report on Form 8-K with the SEC disclosing that it obtained Stockholder Approval, as a result of which, the 94,610 shares of Preferred Stock beneficially owned by the Reporting Persons automatically converted, without any action on the part of the holders thereof, into 946,100 Shares. Additionally, as previously disclosed, on August 8, 2025, a certain Rubric Fund entered into the Note Purchase Agreement with the Issuer, pursuant to which the Issuer issued and sold to such Rubric Fund $35,000,000 aggregate principal amount of Notes for an aggregate purchase price of $33,250,000. The Convertible Note Issuance provided for the issuance of Notes with (i) a maturity date of March 1, 2031, (ii) a 5% original issuance discount, (iii) 5% per annum i… Full filing
15.9% -1.6 pts 30.0m≈ $12.8m 2025-10-17
Clearline Capital LP 13G · institution +1.4 pts · filed 2026-02-17 6.7% +1.4 pts 12.2m≈ $5.2m 2026-02-17

Fell to 5% or below in the last year: Adage Capital Management, L.P. (0.0%, 2026-05-13), VANGUARD GROUP INC (0.0%, 2026-03-27)

Insider purchases and sales in Q3 2022

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
202Q4 20: 0 buyingQ4 20: 0 sellingQ1 21: 0 buyingQ1 21: 0 sellingQ1 21Q2 21: 0 buyingQ2 21: 0 sellingQ3 21: 0 buyingQ3 21: 0 sellingQ3 21Q4 21: 0 buyingQ4 21: 2 sellingQ1 22: 0 buyingQ1 22: 0 sellingQ1 22Q2 22: 0 buyingQ2 22: 1 sellingQ3 22: 0 buyingQ3 22: 0 sellingQ3 22
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20200—0——
Q1 20210—0——
Q2 20210—0——
Q3 20210—0——
Q4 20210—2$5.4k—
Q1 20220—0——
Q2 20220—1$7.2k—
Q3 20220—0——

None reported in Q3 2022.

Holders, Q3 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 11,883,17811.9m $50.1m $50.1m 0.03% —
2 BlackRock Inc. 0.00% of their portfolio New York, NY 9,258,3039.3m $39.1m $39.1m 0.00% —
3 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 8,838,7068.8m $37.3m $37.3m 0.00% —
4 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 8,752,8418.8m $36.9m $36.9m 0.00% —
5 Deep Track Capital, LP 1.78% of their portfolio GREENWICH, CT 8,548,3878.5m $36.1m $36.1m 1.78% —
6 BAKER BROS. ADVISORS LP 0.22% of their portfolio NEW YORK, NY 8,131,6788.1m $34.3m $34.3m 0.22% —
7 TANG CAPITAL MANAGEMENT LLC 3.54% of their portfolio SAN DIEGO, CA 6,840,0006.8m $28.9m $28.9m 3.54% —
8 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,694,6846.7m $28.3m $28.3m 0.00% —
9 GREAT POINT PARTNERS LLC 5.65% of their portfolio Greenwich, CT 5,645,1615.6m $23.5m $23.5m 5.65% —
10 ArrowMark Colorado Holdings LLC 0.29% of their portfolio Denver, CO 5,601,1075.6m $23.6m $23.6m 0.29% —
11 PALISADE CAPITAL MANAGEMENT, LP 0.41% of their portfolio FORT LEE, NJ 3,388,6323.4m $14.3m $14.3m 0.41% —
12 MONTANOVA CAPITAL, LLC 0.50% of their portfolio New York, NY 2,807,0002.8m $11.8m $11.8m 0.50% —
13 Rubric Capital Management LP 0.53% of their portfolio NEW YORK, NY 2,516,3282.5m $10.6m $10.6m 0.53% —
14 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,299,0532.3m $9.7m $9.7m 0.00% —
15 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 1,826,2991.8m $7.7m $7.7m 0.00% —
16 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 1,680,9661.7m $7.1m $7.1m 0.01% —
17 Orchard Capital Management, LLC 2.19% of their portfolio CHICAGO, IL 1,391,0801.4m $5.9m $5.9m 2.19% —
18 ORBIMED ADVISORS LLC 0.09% of their portfolio New York, NY 1,123,0001.1m $4.7m $4.7m 0.09% —
19 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 1,052,6961.1m $4.4m $4.4m 0.01% —
20 Walleye Capital LLC 0.10% of their portfolio NEW YORK, NY 1,035,0821.0m $4.4m $4.4m 0.10% —
21 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 979,570979.6k $4.1m $4.1m 0.00% —
22 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 946,313946.3k $4.0m $4.0m 0.00% —
23 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 938,352938.4k $4.0m $4.0m 0.01% —
24 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 899,571899.6k $3.8m $3.8m 0.01% —
25 Graham Capital Management, L.P. 0.16% of their portfolio ROWAYTON, CT 890,650890.6k $3.8m $3.8m 0.16% —
26 Woodline Partners LP 0.05% of their portfolio San Francisco, CA 797,906797.9k $3.4m $3.4m 0.05% —
27 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 741,006741.0k $3.1m $3.1m 0.00% —
28 Integral Health Asset Management, LLC 0.60% of their portfolio New York, NY 700,000700.0k $3.0m $3.0m 0.60% —
29 Pekin Hardy Strauss, Inc. 0.45% of their portfolio CHICAGO, IL 643,115643.1k $2.7m $2.7m 0.45% —
30 GAGNON SECURITIES LLC 0.57% of their portfolio New York, NY 617,703617.7k $2.6m $2.6m 0.57% —
31 Rafferty Asset Management, LLC 0.03% of their portfolio New York, NY 602,451602.5k $2.5m $2.5m 0.03% —
32 Gagnon Advisors, LLC 1.57% of their portfolio New York, NY 576,206576.2k $2.4m $2.4m 1.57% —
33 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 566,856566.9k $2.4m $2.4m 0.00% —
34 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 557,092557.1k $2.4m $2.4m 0.00% —
35 AXA S.A. 0.00% of their portfolio PARIS, I0 555,400555.4k $2.3m $2.3m 0.00% —
36 NEXPOINT ASSET MANAGEMENT, L.P. 0.14% of their portfolio Dallas, TX 499,131499.1k $2.1m $2.1m 0.14% —
37 ExodusPoint Capital Management, LP 0.02% of their portfolio NEW YORK, NY 413,612413.6k $1.7m $1.7m 0.02% —
38 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 380,441380.4k $1.6m $1.6m 0.02% —
39 J. Goldman & Co LP 0.12% of their portfolio NEW YORK, NY 374,563374.6k $1.6m $1.6m 0.12% —
40 Cubist Systematic Strategies, LLC 0.01% of their portfolio STAMFORD, CT 365,775365.8k $1.5m $1.5m 0.01% —
41 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 347,636347.6k $1.5m $1.5m 0.00% —
42 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 332,911332.9k $1.4m $1.4m 0.00% —
43 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 325,177325.2k $1.4m $1.4m 0.00% —
44 PDT Partners, LLC 0.19% of their portfolio New York, NY 304,459304.5k $1.3m $1.3m 0.19% —
45 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 301,728301.7k $1.3m $1.3m 0.00% —
46 KBC Group NV 0.01% of their portfolio Brussels, C9 289,269289.3k $1.2m $1.2m 0.01% —
47 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 287,280287.3k $1.2m $1.2m 0.00% —
48 Swiss National Bank 0.00% of their portfolio ZURICH, V8 278,700278.7k $1.2m $1.2m 0.00% —
49 CM Management, LLC 1.30% of their portfolio GULF BREEZE, FL 275,000275.0k $1.2m $1.2m 1.30% —
50 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 249,206249.2k $1.1m $1.1m 0.00% —
51 JACOB ASSET MANAGEMENT OF NEW YORK LLC 1.10% of their portfolio HERMOSA BEACH, CA 239,346239.3k $1.0m $1.0m 1.10% —
52 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 233,540233.5k $985.5k $985.5k 0.00% —
53 Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio VANCOUVER, A1 228,611228.6k $965.0k $965.0k 0.01% —
54 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 207,705207.7k $877.0k $877.0k 0.01% —
55 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 196,777196.8k $830.0k $830.0k 0.01% —
56 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 180,881180.9k $763.0k $763.0k 0.00% —
57 Ensign Peak Advisors, Inc 0.00% of their portfolio SALT LAKE CITY, UT 175,572175.6k $740.0k $740.0k 0.00% —
58 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 173,053173.1k $730.0k $730.0k 0.00% —
59 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 171,453171.5k $724.0k $724.0k 0.00% —
60 Congress Park Capital LLC 0.48% of their portfolio SARATOGA SPRINGS, NY 170,760170.8k $721.0k $721.0k 0.48% —
61 Weiss Multi-Strategy Advisers LLC 0.02% of their portfolio NEW YORK, NY 165,000165.0k $696.0k $696.0k 0.02% —
62 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 160,800160.8k $679.0k $679.0k 0.00% —
63 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 152,218152.2k $642.0k $642.0k 0.00% —
64 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 142,681142.7k $602.0k $602.0k 0.00% —
65 FMR LLC 0.00% of their portfolio BOSTON, MA 142,255142.3k $601.0k $601.0k 0.00% —
66 Zweig-DiMenna Associates LLC 0.13% of their portfolio NEW YORK, NY 140,850140.8k $594.0k $594.0k 0.13% —
67 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 138,217138.2k $583.0k $583.0k 0.00% —
68 Hennion & Walsh Asset Management, Inc. 0.04% of their portfolio Parsippany, NJ 138,200138.2k $583.0k $583.0k 0.04% —
69 Ergoteles LLC 0.02% of their portfolio NEW YORK, NY 133,952134.0k $565.0k $565.0k 0.02% —
70 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 129,259129.3k $545.0k $545.0k 0.00% —
71 Laurion Capital Management LP 0.01% of their portfolio NEW YORK, NY 114,321114.3k $482.0k $482.0k 0.01% —
72 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 110,752110.8k $467.4k $467.4k 0.00% —
73 TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio STAMFORD, CT 110,121110.1k $465.0k $465.0k 0.01% —
74 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 103,585103.6k $437.0k $437.0k 0.00% —
75 Quantbot Technologies LP 0.03% of their portfolio NEW YORK, NY 94,39894.4k $398.0k $398.0k 0.03% —
76 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 94,33494.3k $397.0k $397.0k 0.00% —
77 UBS Group AG 0.00% of their portfolio ZURICH, V8 87,88787.9k $372.0k $372.0k 0.00% —
78 GSA CAPITAL PARTNERS LLP 0.05% of their portfolio LONDON, X0 86,45986.5k $365.0k $365.0k 0.05% —
79 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 83,65483.7k $354.0k $354.0k 0.00% —
80 XTX Topco Ltd 0.08% of their portfolio LONDON, X0 81,12381.1k $342.0k $342.0k 0.08% —
81 Pinz Capital Management, LP 0.56% of their portfolio NEW YORK, NY 73,76573.8k $311.0k $311.0k 0.56% —
82 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 71,17071.2k $301.0k $301.0k 0.00% —
83 Jump Financial, LLC 0.01% of their portfolio Chicago, IL 66,91166.9k $282.0k $282.0k 0.01% —
84 Redmond Asset Management, LLC 0.10% of their portfolio HENRICO, VA 65,13665.1k $275.0k $275.0k 0.10% —
85 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 60,53260.5k $256.0k $256.0k 0.00% —
86 LETKO, BROSSEAU & ASSOCIATES INC 0.00% of their portfolio MONTREAL, A8 57,20057.2k $241.0k $241.0k 0.00% —
87 Y-Intercept (Hong Kong) Ltd 0.02% of their portfolio HONG KONG, K3 53,64753.6k $226.4k $226.4k 0.02% —
88 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 53,56453.6k $226.0k $226.0k 0.00% —
89 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 53,26853.3k $225.0k $225.0k 0.00% —
90 X-Square Capital, LLC 0.14% of their portfolio GUAYNABO, PR 52,86252.9k $223.0k $223.0k 0.14% —
91 J.P. Morgan Private Wealth Advisors LLC 0.00% of their portfolio SAN FRANCISCO, CA 52,04152.0k $220.0k $220.0k 0.00% —
92 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 50,02350.0k $212.0k $212.0k 0.00% —
93 AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio New York, NY 48,85848.9k $206.0k $206.0k 0.00% —
94 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 47,17947.2k $199.0k $199.0k 0.00% —
95 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 46,11946.1k $195.0k $195.0k 0.00% —
96 Legal & General Group Plc 0.00% of their portfolio London, X0 45,53845.5k $192.0k $192.0k 0.00% —
97 Bayesian Capital Management, LP 0.04% of their portfolio Brooklyn, NY 44,60044.6k $188.0k $188.0k 0.04% —
98 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 41,88741.9k $176.8k $176.8k 0.00% —
99 Knights of Columbus Asset Advisors LLC 0.02% of their portfolio NEW HAVEN, CT 41,74141.7k $176.0k $176.0k 0.02% —
100 E Fund Management Co., Ltd. 0.02% of their portfolio GUANGZHOU, F4 41,39141.4k $175.0k $175.0k 0.02% —