HERON THERAPEUTICS INC HRTX
COM · Common Stock · CUSIP 427746102
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersSan Diego, CA
- FilingsSEC EDGAR
* 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 ($934 this quarter). Holder counts are more reliable. Shares outstanding: 140.8m as of 2023-07-25, 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 ≈ $1.16. Options: 3 managers hold calls ($19.7k notional), 4 hold puts ($59.6k).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 185 |
| Q4 2022 | 176 |
| Q1 2023 | 162 |
| Q2 2023 | 149 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 71 | 90 |
| Q1 2023 | 62 | 83 |
| Q2 2023 | 63 | 75 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $593.0k | $487.0k | 0.82 |
| Q4 2022 | $2.6m | $124.2k | 0.05 |
| Q1 2023 | $19.6k | $74.7k | 3.82 |
| Q2 2023 | $19.7k | $59.6k | 3.02 |
Biggest buyers
| JW Asset Management, LLC | New | +2.2m |
| TANG CAPITAL MANAGEMENT LLC | Added | +1.3m |
| Jefferies Financial Group Inc. | New | +1.3m |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | New | +1.0m |
| Clearline Capital LP | Added | +576.7k |
| Monaco Asset Management SAM | New | +405.0k |
| COMMONWEALTH EQUITY SERVICES, LLC | Added | +278.5k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | New | +221.7k |
| Zweig-DiMenna Associates LLC | Added | +198.5k |
| Congress Park Capital LLC | Added | +190.6k |
Biggest sellers
| FRANKLIN RESOURCES INC | Reduced | -4.4m |
| ArrowMark Colorado Holdings LLC | Reduced | -3.3m |
| Deep Track Capital, LP | Reduced | -1.1m |
| GREAT POINT PARTNERS LLC | Reduced | -1.1m |
| BlackRock Inc. | Reduced | -1.0m |
| Nuveen Asset Management, LLC | Reduced | -629.3k |
| CITADEL ADVISORS LLC | Reduced | -613.8k |
| Woodline Partners LP | Sold out | -569.2k |
| HRT FINANCIAL LP | Sold out | -547.4k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -472.0k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $19.0k16.4k shares |
| GROUP ONE TRADING LLC | Reduced | $696600 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $39.1k33.7k shares |
| CITADEL ADVISORS LLC | Added | $19.5k16.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.0k1.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $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.
| Holder | Stake |
|---|---|
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% |
| Clearline Capital LP 13G · institution +1.4 pts · filed 2026-02-17 | 6.7% |
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 Q2 2023
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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 2 | $5.4k | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 0 | — | 1 | $7.2k | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| Rubric Capital Management LP 0.58% of their portfolio | 11.8m $13.6m | Unchanged |
| BlackRock Inc. 0.00% of their portfolio | 8.4m $9.7m | Reduced -1.0m |
| VANGUARD GROUP INC 0.00% of their portfolio | 8.1m $9.4m | Reduced -289.9k |
| BAKER BROS. ADVISORS LP 0.05% of their portfolio | 8.1m $9.4m | Unchanged |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 7.5m $8.7m | Reduced -4.4m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 6.9m $8.0m | Reduced -231.2k |
| GREAT POINT PARTNERS LLC 1.10% of their portfolio | 4.7m $5.5m | Reduced -1.1m |
| Velan Capital Investment Management LP 4.90% of their portfolio | 4.5m $5.2m | Unchanged |
| PALISADE CAPITAL MANAGEMENT, LP 0.13% of their portfolio | 4.1m $4.8m | Added +173.4k |
| Clearline Capital LP 0.40% of their portfolio | 2.7m $3.1m | Added +576.7k |
| STATE STREET CORP 0.00% of their portfolio | 2.3m $2.7m | Reduced -224.8k |
| JW Asset Management, LLC 0.93% of their portfolio | 2.2m $2.6m | New |
| Deep Track Capital, LP 0.11% of their portfolio | 2.1m $2.4m | Reduced -1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.1m $2.4m | Added +79.5k |
| TANG CAPITAL MANAGEMENT LLC 0.32% of their portfolio | 1.9m $2.1m | Added +1.3m |
| Tejara Capital Ltd 0.94% of their portfolio | 1.6m $1.9m | Reduced -27.4k |
| Orchard Capital Management, LLC 0.54% of their portfolio | 1.4m $1.6m | Unchanged |
| Jefferies Financial Group Inc. 0.03% of their portfolio | 1.3m $1.5m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 1.1m $1.3m | Added +39.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 1.1m $1.2m | Reduced -81.7k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.00% of their portfolio | 1.0m $1.2m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 908.6k $1.1m | Reduced -75.2k |
| ORBIMED ADVISORS LLC 0.02% of their portfolio | 802.7k $931.1k | Unchanged |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 743.6k $862.6k | Added +12.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 566.1k $656.6k | Added +161.8k |
| Congress Park Capital LLC 0.33% of their portfolio | 511.2k $593.0k | Added +190.6k |
| CM Management, LLC 0.57% of their portfolio | 500.0k $580.0k | Added +150.0k |
| NEXPOINT ASSET MANAGEMENT, L.P. 0.09% of their portfolio | 499.1k $579.0k | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 436.0k $505.8k | Reduced -613.8k |
| XTX Topco Ltd 0.08% of their portfolio | 407.8k $473.1k | Added +171.9k |
| Monaco Asset Management SAM 0.25% of their portfolio | 405.0k $469.8k | New |
| MORGAN STANLEY 0.00% of their portfolio | 377.3k $437.6k | Reduced -78.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 361.4k $419.2k | Added +32.7k |
| Fisher Asset Management, LLC 0.00% of their portfolio | 349.2k $405.1k | Reduced -54.0k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 349.0k $404.8k | Reduced -372.1k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 339.5k $393.8k | Reduced -366.2k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 334.1k $387.5k | Reduced -1.2k |
| Zweig-DiMenna Associates LLC 0.05% of their portfolio | 320.1k $371.4k | Added +198.5k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 298.4k $346.0k | Added +278.5k |
| KBC Group NV 0.00% of their portfolio | 289.3k $336.0k | Unchanged |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 287.2k $333.1k | Reduced -65.6k |
| Simplify Asset Management Inc. 0.06% of their portfolio | 281.6k $326.6k | Reduced -25.0k |
| JACOB ASSET MANAGEMENT OF NEW YORK LLC 0.36% of their portfolio | 277.0k $321.3k | Reduced -49.6k |
| FMR LLC 0.00% of their portfolio | 276.2k $320.4k | Added +2.7k |
| D.A. DAVIDSON & CO. 0.00% of their portfolio | 256.4k $297.4k | Added +35.0k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio | 225.9k $262.0k | Reduced -24.5k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 221.7k $257.1k | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 193.6k $224.6k | Added +16.7k |
| Graham Capital Management, L.P. 0.01% of their portfolio | 169.1k $196.2k | Added +144.1k |
| Squarepoint Ops LLC 0.00% of their portfolio | 160.1k $185.8k | Added +134.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 148.0k $171.6k | Added +6.9k |
| Weiss Multi-Strategy Advisers LLC 0.00% of their portfolio | 143.7k $167.0k | Reduced -14.8k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 137.4k $159.4k | Added +973 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 117.1k $135.8k | Added +73.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 110.8k $167.2k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 109.4k $126.9k | Added +65.9k |
| Pekin Hardy Strauss, Inc. 0.02% of their portfolio | 106.1k $123.1k | Reduced -465.6k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 93.8k $108.8k | Reduced -472.0k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 91.8k $106.4k | Reduced -629.3k |
| SEARLE & CO. 0.04% of their portfolio | 78.2k $129.9k | Added +15.0k |
| Quinn Opportunity Partners LLC 0.01% of their portfolio | 72.1k $83.6k | Reduced -20.0k |
| UBS Group AG 0.00% of their portfolio | 69.0k $80.1k | Added +13.3k |
| Point72 Middle East FZE 0.00% of their portfolio | 67.8k $78.7k | New |
| Invesco Ltd. 0.00% of their portfolio | 67.7k $78.5k | Added +13.6k |
| Y-Intercept (Hong Kong) Ltd 0.01% of their portfolio | 66.3k $76.9k | New |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 61.5k $71.3k | Reduced -1.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 60.6k $70.3k | Reduced -45.4k |
| Allspring Global Investments Holdings, LLC 0.00% of their portfolio | 58.9k $68.4k | Added +27.2k |
| BARCLAYS PLC 0.00% of their portfolio | 57.2k $66.4k | Reduced -41.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 56.6k $66.0k | Added +2.0k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 53.6k $62.1k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 52.3k $60.6k | Added +21.4k |
| Apeiron RIA LLC 0.02% of their portfolio | 52.0k $60.3k | Added +19.0k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio | 49.8k $57.8k | Added +168 |
| GRIMES & Co WEALTH MANAGEMENT, LLC 0.00% of their portfolio | 47.8k $55.5k | Added +10.1k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 45.6k $52.8k | Reduced -21.6k |
| Richmond Brothers, Inc. 0.08% of their portfolio | 42.4k $49.2k | New |
| Knights of Columbus Asset Advisors LLC 0.00% of their portfolio | 41.7k $48.4k | Unchanged |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 41.4k $48.0k | Added +1.9k |
| Lido Advisors, LLC 0.00% of their portfolio | 36.9k $42.8k | Added +1.6k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 36.5k $42.3k | Reduced -112.0k |
| Cubist Systematic Strategies, LLC 0.00% of their portfolio | 35.3k $40.9k | Added +8.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 34.4k $40.0k | Reduced -108.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 33.7k $39.1k | Added +2.8k |
| LPL Financial LLC 0.00% of their portfolio | 33.5k $38.9k | Added +20.6k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 33.1k $38.4k | Reduced -1.6k |
| Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio | 33.0k $38.2k | New |
| X-Square Capital, LLC 0.02% of their portfolio | 31.2k $36.0k | Reduced -116.7k |
| CITIGROUP INC 0.00% of their portfolio | 30.8k $35.8k | Added +20.4k |
| ArrowMark Colorado Holdings LLC 0.00% of their portfolio | 26.4k $30.6k | Reduced -3.3m |
| State of Wyoming 0.01% of their portfolio | 24.0k $27.9k | New |
| CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio | 23.9k $27.7k | Reduced -1.6k |
| CreativeOne Wealth, LLC 0.00% of their portfolio | 23.2k $46.0k | Added +11.7k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 19.4k $22.5k | Reduced -1.6k |
| Engineers Gate Manager LP 0.00% of their portfolio | 17.6k $20.5k | New |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 17.5k $20.0k | Reduced -500 |
| Estate Counselors, LLC 0.00% of their portfolio | 17.0k $19.7k | New |
| Biltmore Family Office, LLC 0.00% of their portfolio | 16.4k $19.1k | Added +125 |
| AMALGAMATED BANK 0.00% of their portfolio | 15.5k $18.0k | Added +1.1k |
| PFS INVESTMENTS INC. 0.00% of their portfolio | 15.2k $18.0k | Added +1.2k |