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 ($67.2k this quarter). Holder counts are more reliable. Shares outstanding: 152.3m as of 2025-02-13, 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 ≈ $1.53. Options: 6 managers hold calls ($4.6m notional), 6 hold puts ($63.8k).
Trends to Q4 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 |
| Q4 2024 | 161 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q4 2024 | 62 | 86 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $4.7m | $390.9k | 0.08 |
| Q2 2024 | $532.5k | $781.1k | 1.47 |
| Q3 2024 | $297.0k | $213.6k | 0.72 |
| Q4 2024 | $4.6m | $63.8k | 0.01 |
Biggest buyers
| Point72 Asset Management, L.P. | New | +3.1m |
| MORGAN STANLEY | Added | +1.0m |
| Stonepine Capital Management, LLC | New | +700.0k |
| Congress Park Capital LLC | Added | +477.4k |
| Quinn Opportunity Partners LLC | New | +380.0k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | New | +300.0k |
| TANG CAPITAL MANAGEMENT LLC | Added | +290.3k |
| J. Goldman & Co LP | New | +270.1k |
| CM Management, LLC | Added | +200.0k |
| JPMORGAN CHASE & CO | Added | +149.3k |
Biggest sellers
| CITADEL ADVISORS LLC | Sold out | -1.6m |
| Qube Research & Technologies Ltd | Sold out | -1.1m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.1m |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -819.4k |
| Nuveen Asset Management, LLC | Reduced | -792.4k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -718.9k |
| MARSHALL WACE, LLP | Reduced | -698.0k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -685.1k |
| D. E. Shaw & Co., Inc. | Reduced | -661.0k |
| Tejara Capital Ltd | Reduced | -644.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.0m1.9m shares |
| GROUP ONE TRADING LLC | Added | $1.5m1.0m shares |
| CITADEL ADVISORS LLC | Added | $78.8k51.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $23.0k15.6k shares |
| Quadcap Wealth Management, LLC | New | $9.2k6.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $18.2k11.9k shares |
| WOLVERINE TRADING, LLC | New | $15.9k10.5k shares |
| CITADEL ADVISORS LLC | Reduced | $15.3k10.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $14.0k9.7k shares |
| GROUP ONE TRADING LLC | Reduced | $459300 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 Q4 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| Rubric Capital Management LP 0.74% of their portfolio | 26.7m $40.9m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 8.6m $13.1m | Added +56.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio | 8.5m $13.0m | Reduced -350.0k |
| VANGUARD GROUP INC 0.00% of their portfolio | 8.2m $12.5m | Reduced -562.6k |
| Velan Capital Investment Management LP 9.22% of their portfolio | 7.0m $10.7m | Unchanged |
| Tejara Capital Ltd 4.67% of their portfolio | 4.7m $7.1m | Reduced -644.3k |
| PALISADE CAPITAL MANAGEMENT, LP 0.16% of their portfolio | 3.9m $6.0m | Reduced -65.9k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 3.7m $5.7m | Reduced -661.0k |
| STATE STREET CORP 0.00% of their portfolio | 3.1m $4.8m | Reduced -46.2k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 3.1m $4.7m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.0m $4.6m | Reduced -30.0k |
| MORGAN STANLEY 0.00% of their portfolio | 2.8m $4.3m | Added +1.0m |
| Congress Park Capital LLC 1.36% of their portfolio | 2.5m $3.8m | Added +477.4k |
| JW Asset Management, LLC 1.67% of their portfolio | 2.3m $3.5m | Unchanged |
| TANG CAPITAL MANAGEMENT LLC 0.22% of their portfolio | 2.1m $3.3m | Added +290.3k |
| Orchard Capital Management, LLC 1.12% of their portfolio | 1.9m $2.8m | Reduced -103.7k |
| Clearline Capital LP 0.37% of their portfolio | 1.8m $2.8m | Reduced -416.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 1.3m $2.0m | Added +41.1k |
| Monaco Asset Management SAM 0.83% of their portfolio | 1.2m $1.9m | Reduced -465.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 1.2m $1.8m | Reduced -819.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.1m $1.7m | Added +9.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.0m $1.6m | Added +90.9k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 1.0m $1.6m | Reduced -698.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.0m $1.5m | Added +21.8k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 990.2k $1.5m | Reduced -411.9k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 823.9k $1.3m | Added +12.5k |
| Stonepine Capital Management, LLC 0.86% of their portfolio | 700.0k $1.1m | New |
| CM Management, LLC 0.96% of their portfolio | 700.0k $1.1m | Added +200.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 655.2k $1.0m | Reduced -1.1m |
| Richmond Brothers, Inc. 0.63% of their portfolio | 642.3k $982.8k | Added +131.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 562.8k $861.0k | Added +149.3k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 488.1k $746.8k | Reduced -8.1k |
| NEXPOINT ASSET MANAGEMENT, L.P. 0.08% of their portfolio | 475.8k $727.9k | Unchanged |
| Quinn Opportunity Partners LLC 0.04% of their portfolio | 380.0k $581.4k | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 340.7k $521.3k | Reduced -29 |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 314.3k $480.8k | Reduced -792.4k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 300.0k $459.0k | New |
| XTX Topco Ltd 0.04% of their portfolio | 297.5k $455.2k | Reduced -83 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 277.3k $424.3k | Added +1.4k |
| J. Goldman & Co LP 0.01% of their portfolio | 270.1k $413.3k | New |
| Apeiron RIA LLC 0.11% of their portfolio | 262.5k $401.7k | Added +19.0k |
| BARCLAYS PLC 0.00% of their portfolio | 241.3k $369.3k | Added +22.9k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 215.5k $329.8k | Reduced -718.9k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 215.0k $328.9k | Reduced -685.1k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 198.6k $303.8k | Unchanged |
| FMR LLC 0.00% of their portfolio | 191.9k $293.6k | Reduced -240.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 177.7k $271.8k | Added +1.9k |
| UBS Group AG 0.00% of their portfolio | 159.5k $244.0k | Added +74.2k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 135.7k $207.7k | First filing |
| Zweig-DiMenna Associates LLC 0.02% of their portfolio | 128.6k $196.7k | Unchanged |
| Anfield Capital Management, LLC 0.07% of their portfolio | 119.0k $182.0k | Added +6.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 113.6k $173.7k | Added +10.9k |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 111.1k $170.0k | Added +62.3k |
| Capital Planning Advisors, LLC 0.03% of their portfolio | 106.6k $163.0k | Added +31.0k |
| Verition Fund Management LLC 0.00% of their portfolio | 102.8k $157.3k | Reduced -5.3k |
| Biltmore Family Office, LLC 0.03% of their portfolio | 101.5k $155.2k | New |
| CITIGROUP INC 0.00% of their portfolio | 91.0k $139.3k | Added +5.0k |
| SEARLE & CO. 0.04% of their portfolio | 86.2k $132.0k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 74.8k $114.4k | Added +13.6k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 72.7k $111.2k | Added +635 |
| SG Americas Securities, LLC 0.00% of their portfolio | 71.6k $110.0k | Added +706 |
| Invesco Ltd. 0.00% of their portfolio | 71.4k $109.2k | Added +19.7k |
| Motiv8 Investments LLC 0.07% of their portfolio | 69.2k $105.9k | Reduced -8.4k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 68.2k $104.0k | Added +4.5k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 67.7k $103.5k | Reduced -153.2k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 67.2k $102.9k | Added +2.9k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 59.8k $91.5k | Unchanged |
| Corebridge Financial, Inc. 0.00% of their portfolio | 58.4k $89.3k | Reduced -4.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 58.3k $89.2k | Reduced -68.8k |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 58.2k $89.1k | Added +22.3k |
| LPL Financial LLC 0.00% of their portfolio | 58.1k $88.9k | Reduced -7.6k |
| Aristides Capital LLC 0.03% of their portfolio | 52.8k $80.9k | New |
| Cornerstone Select Advisors, LLC 0.07% of their portfolio | 50.8k $77.7k | First filing |
| Arkadios Wealth Advisors 0.00% of their portfolio | 50.0k $76.5k | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 47.8k $73.2k | Reduced -284.3k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 47.2k $71.0k | Reduced -2.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 46.2k $71.0k | Added +8.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 44.3k $67.8k | Reduced -227 |
| CAROLINAS WEALTH CONSULTING LLC 0.01% of their portfolio | 41.4k $63.3k | Added +13.7k |
| Focus Partners Wealth 0.00% of their portfolio | 40.0k $61.2k | New |
| GLENMEDE TRUST CO NA 0.00% of their portfolio | 39.6k $60.6k | Added +7.7k |
| D.A. DAVIDSON & CO. 0.00% of their portfolio | 37.0k $56.6k | Reduced -176.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 36.4k $55.7k | Reduced -3.8k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 35.1k $53.8k | Reduced -10.1k |
| Cutter & CO Brokerage, Inc. 0.01% of their portfolio | 33.1k $50.7k | Added +13.6k |
| ProShare Advisors LLC 0.00% of their portfolio | 33.1k $50.6k | Added +10.9k |
| SYNOVUS FINANCIAL CORP 0.00% of their portfolio | 31.8k $48.7k | Unchanged |
| State of Wyoming 0.01% of their portfolio | 29.7k $45.5k | Added +25.3k |
| Engineers Gate Manager LP 0.00% of their portfolio | 27.6k $42.2k | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 26.9k $41.1k | Unchanged |
| King Wealth Management Group 0.01% of their portfolio | 26.8k $41.0k | Added +3.5k |
| NewEdge Advisors, LLC 0.00% of their portfolio | 26.6k $40.6k | Unchanged |
| Headlands Technologies LLC 0.00% of their portfolio | 25.7k $39.3k | Reduced -24.0k |
| ACT Advisors, LLC. 0.02% of their portfolio | 25.6k $39.1k | Unchanged |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 25.0k $38.2k | First filing |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 23.0k $35.2k | Unchanged |
| Argent Advisors, Inc. 0.01% of their portfolio | 20.0k $30.6k | New |
| Point72 (DIFC) Ltd 0.00% of their portfolio | 18.9k $29.0k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 18.9k $29.0k | Added +432 |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 18.7k $28.6k | Added +398 |