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. Holder counts are more reliable. Shares outstanding: 152.1m as of 2024-11-07, 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 ≈ $1.99. Options: 5 managers hold calls ($297.0k notional), 5 hold puts ($213.6k).
Trends to Q3 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 185 |
| Q4 2022 | 176 |
| Q1 2023 | 162 |
| Q2 2023 | 149 |
| Q3 2023 | 141 |
| Q4 2023 | 152 |
| Q1 2024 | 161 |
| Q2 2024 | 190 |
| Q3 2024 | 173 |
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 |
| Q3 2023 | 52 | 61 |
| Q4 2023 | 71 | 57 |
| Q1 2024 | 73 | 65 |
| Q2 2024 | 110 | 54 |
| Q3 2024 | 86 | 77 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $2.2m | $157.9k | 0.07 |
| Q1 2024 | $4.7m | $390.9k | 0.08 |
| Q2 2024 | $532.5k | $781.1k | 1.47 |
| Q3 2024 | $297.0k | $213.6k | 0.72 |
Biggest buyers
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Added | +1.2m |
| Tejara Capital Ltd | Added | +1.1m |
| CITADEL ADVISORS LLC | Added | +1.1m |
| MORGAN STANLEY | Added | +1.0m |
| Clearline Capital LP | Added | +731.2k |
| TWO SIGMA ADVISERS, LP | Added | +697.9k |
| Qube Research & Technologies Ltd | Added | +639.4k |
| BANK OF AMERICA CORP /DE/ | Added | +521.6k |
| D. E. Shaw & Co., Inc. | Added | +521.3k |
| HRT FINANCIAL LP | New | +426.8k |
Biggest sellers
| ORBIMED ADVISORS LLC | Sold out | -6.5m |
| FRANKLIN RESOURCES INC | Reduced | -6.3m |
| STATE STREET CORP | Reduced | -2.1m |
| ESSEX INVESTMENT MANAGEMENT CO LLC | Sold out | -696.0k |
| PANAGORA ASSET MANAGEMENT INC | Sold out | -562.2k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -500.2k |
| Informed Momentum Co LLC | Sold out | -274.1k |
| Orchard Capital Management, LLC | Reduced | -263.2k |
| Rafferty Asset Management, LLC | Sold out | -257.6k |
| Legato Capital Management LLC | Sold out | -239.2k |
Biggest calls
| GROUP ONE TRADING LLC | Added | $84.0k42.2k shares |
| CITADEL ADVISORS LLC | Added | $80.0k40.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $80.0k40.2k shares |
| SIMPLEX TRADING, LLC | Added | $53.0k27.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $102.5k51.5k shares |
| CITADEL ADVISORS LLC | Added | $86.4k43.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $19.0k10.0k shares |
| GROUP ONE TRADING LLC | Reduced | $5.8k2.9k 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 Q3 2024
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 |
|---|---|---|---|---|---|
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 1 | $3.4m | 0 | — | — |
| Q4 2023 | 3 | $287.9k | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
None reported in Q3 2024.
Holders, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| Rubric Capital Management LP 0.87% of their portfolio | 26.7m $53.2m | Unchanged |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio | 8.8m $17.6m | Added +1.2m |
| VANGUARD GROUP INC 0.00% of their portfolio | 8.7m $17.4m | Added +104.3k |
| BlackRock, Inc. 0.00% of their portfolio | 8.5m $17.0m | First filing |
| Velan Capital Investment Management LP 15.09% of their portfolio | 7.0m $13.9m | Unchanged |
| Tejara Capital Ltd 5.04% of their portfolio | 5.3m $10.6m | Added +1.1m |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 4.4m $8.7m | Added +521.3k |
| PALISADE CAPITAL MANAGEMENT, LP 0.21% of their portfolio | 4.0m $7.9m | Reduced -56.9k |
| STATE STREET CORP 0.00% of their portfolio | 3.2m $6.4m | Reduced -2.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.0m $6.1m | Reduced -67.0k |
| JW Asset Management, LLC 2.06% of their portfolio | 2.3m $4.6m | Unchanged |
| Clearline Capital LP 0.39% of their portfolio | 2.2m $4.4m | Added +731.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 2.0m $4.0m | Added +14.4k |
| Orchard Capital Management, LLC 1.36% of their portfolio | 2.0m $3.9m | Reduced -263.2k |
| Congress Park Capital LLC 1.46% of their portfolio | 2.0m $3.9m | Added +399.6k |
| TANG CAPITAL MANAGEMENT LLC 0.26% of their portfolio | 1.9m $3.7m | Unchanged |
| MORGAN STANLEY 0.00% of their portfolio | 1.8m $3.5m | Added +1.0m |
| MARSHALL WACE, LLP 0.00% of their portfolio | 1.7m $3.4m | Reduced -45.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.7m $3.4m | Added +292.1k |
| Monaco Asset Management SAM 1.40% of their portfolio | 1.7m $3.3m | Added +165.3k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 1.6m $3.2m | Added +1.1m |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 1.4m $2.8m | Added +295.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 1.3m $2.5m | Added +35.0k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 1.1m $2.3m | Added +639.4k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 1.1m $2.2m | Reduced -73.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.1m $2.2m | Reduced -41.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 990.0k $2.0m | Added +55.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 955.9k $1.9m | Added +521.6k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 934.4k $1.9m | Reduced -500.2k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 900.1k $1.8m | Added +293.0k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 811.4k $1.6m | Added +697.9k |
| Squarepoint Ops LLC 0.00% of their portfolio | 612.9k $1.2m | Added +249.2k |
| GSA CAPITAL PARTNERS LLP 0.08% of their portfolio | 512.7k $1.0m | Added +79.7k |
| Richmond Brothers, Inc. 0.63% of their portfolio | 510.8k $1.0m | Added +154.2k |
| CM Management, LLC 0.79% of their portfolio | 500.0k $995.0k | Added +200.0k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 496.2k $987.5k | Reduced -25.0k |
| NEXPOINT ASSET MANAGEMENT, L.P. 0.11% of their portfolio | 475.8k $946.7k | Unchanged |
| ZACKS INVESTMENT MANAGEMENT 0.01% of their portfolio | 475.6k $946.4k | Added +11.3k |
| FMR LLC 0.00% of their portfolio | 431.9k $859.5k | Added +89.6k |
| HRT FINANCIAL LP 0.00% of their portfolio | 426.8k $849.0k | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 413.4k $822.7k | Added +309.0k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 340.7k $678.1k | Reduced -108.5k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 332.1k $660.9k | Reduced -18.8k |
| XTX Topco Ltd 0.04% of their portfolio | 297.6k $592.2k | Added +243.4k |
| KBC Group NV 0.00% of their portfolio | 289.3k $576.0k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 275.9k $549.1k | Added +92.4k |
| Apeiron RIA LLC 0.14% of their portfolio | 243.5k $484.6k | Added +54.9k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 220.8k $439.5k | Reduced -18.1k |
| BARCLAYS PLC 0.00% of their portfolio | 218.5k $434.7k | Added +50.1k |
| D.A. DAVIDSON & CO. 0.00% of their portfolio | 213.6k $425.1k | Reduced -4.9k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 198.6k $395.1k | Unchanged |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 175.8k $349.8k | Reduced -8.7k |
| Zweig-DiMenna Associates LLC 0.03% of their portfolio | 128.6k $255.9k | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 127.1k $253.0k | Reduced -191.6k |
| Anfield Capital Management, LLC 0.09% of their portfolio | 112.7k $224.3k | New |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 110.9k $220.7k | Added +60.6k |
| Verition Fund Management LLC 0.00% of their portfolio | 108.1k $215.1k | Added +83.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 102.7k $204.3k | Added +84.2k |
| SEARLE & CO. 0.04% of their portfolio | 86.2k $171.6k | Added +75.2k |
| CITIGROUP INC 0.00% of their portfolio | 86.0k $171.1k | Added +35.5k |
| RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio | 85.5k $170.1k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 85.3k $169.7k | Reduced -81.5k |
| Motiv8 Investments LLC 0.10% of their portfolio | 77.6k $154.5k | Reduced -34 |
| Capital Planning Advisors, LLC 0.02% of their portfolio | 75.6k $150.4k | Added +1.0k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 72.1k $143.4k | Unchanged |
| SG Americas Securities, LLC 0.00% of their portfolio | 70.9k $141.0k | Reduced -127.3k |
| LPL Financial LLC 0.00% of their portfolio | 65.7k $130.7k | Added +325 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 64.4k $128.1k | Added +2.6k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 63.7k $127.0k | Added +6.9k |
| Corebridge Financial, Inc. 0.00% of their portfolio | 62.8k $124.9k | Reduced -386 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 61.2k $121.8k | Added +593 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 59.8k $119.0k | Added +28.5k |
| Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio | 55.6k $110.6k | Added +21.8k |
| Invesco Ltd. 0.00% of their portfolio | 51.7k $102.8k | Added +10.3k |
| Headlands Technologies LLC 0.01% of their portfolio | 49.7k $98.9k | Reduced -40.8k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 49.7k $99.6k | Added +17.7k |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 48.8k $97.1k | Reduced -2.0k |
| GRIMES & Co WEALTH MANAGEMENT, LLC 0.00% of their portfolio | 47.9k $95.2k | Unchanged |
| Lido Advisors, LLC 0.00% of their portfolio | 45.3k $90.2k | Unchanged |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 45.3k $90.1k | Added +7.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 44.5k $88.6k | Reduced -1.3k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 42.5k $84.6k | Added +12.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 40.2k $80.1k | Added +676 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 37.5k $75.0k | Unchanged |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 36.0k $71.6k | New |
| GLENMEDE TRUST CO NA 0.00% of their portfolio | 31.9k $63.5k | Added +10.6k |
| SYNOVUS FINANCIAL CORP 0.00% of their portfolio | 31.8k $63.4k | Unchanged |
| Horan Securities, Inc. 0.02% of their portfolio | 29.3k $58.3k | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 27.8k $55.4k | Added +8.7k |
| CAROLINAS WEALTH CONSULTING LLC 0.01% of their portfolio | 27.7k $55.1k | Added +5.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 26.9k $53.5k | Unchanged |
| NewEdge Advisors, LLC 0.00% of their portfolio | 26.6k $52.8k | New |
| FIRETHORN WEALTH PARTNERS, LLC 0.03% of their portfolio | 26.0k $51.8k | New |
| ACT Advisors, LLC. 0.02% of their portfolio | 25.6k $50.9k | Added +3.4k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 25.2k $50.1k | New |
| Dakota Wealth Management 0.00% of their portfolio | 23.9k $47.7k | Unchanged |
| King Wealth Management Group 0.01% of their portfolio | 23.3k $46.0k | Added +8.0k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 23.2k $46.1k | Reduced -119.8k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 23.0k $41.2k | Reduced -6.3m |
| CAPSTONE INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 22.7k $45.1k | New |