HRTX HERON THERAPEUTICS INC
COMMON
CUSIP: 427746102
FIGI: BBG000FJTPR5
Institutional Holders168
Total Institutional Value$206,720,266
Total Shares Held156,756,861
Avg Position$1,230,478
Top 5 Holders %46.2%
Alpha-Weighted Score69.5
New Positions+22
Exited Positions-23
Top 15 Institutional Holders by Value
■ New ■ Increased ■ Decreased ■ Unchanged
Institutional Holders — Q4 25
| Manager | Alpha | Flow | Value | Shares | Change |
|---|---|---|---|---|---|
| RUBRIC CAPITAL MANAGEMENT LP | Elite Conviction | Low Flow | $39,060,876 (18.9%) | 30,046,828 | 6.5% |
| CLEARLINE CAPITAL LP | High Conviction | Low Flow | $15,905,811 (7.7%) | 12,235,239 | 30.0% |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | High Conviction | Significant Flow | $14,540,923 (7.0%) | 11,185,325 | 12.7% |
| BLACKROCK FUNDING, INC. /DE | High Conviction | Market Mover | $13,283,708 (6.4%) | 10,218,236 | 5.6% |
| VANGUARD GROUP INC | High Conviction | Market Mover | $12,766,499 (6.2%) | 9,820,384 | 19.8% |
| VELAN CAPITAL INVESTMENT MANAGEMENT LP | High Conviction | Minimal Flow | $11,379,277 (5.5%) | 8,753,290 | 3.2% |
| MILLENNIUM MANAGEMENT, L.L.C. | Moderate Conviction | Market Mover | $9,320,880 (4.5%) | 7,169,908 | 2,876.8% |
| PALISADE CAPITAL MANAGEMENT, LP | High Conviction | Low Flow | $8,223,947 (4.0%) | 6,326,113 | -10.9% |
| TANG CAPITAL MANAGEMENT LLC | High Conviction | Low Flow | $8,125,000 (3.9%) | 6,250,000 | 86.9% |
| TEJARA CAPITAL LTD | High Conviction | Minimal Flow | $6,670,854 (3.2%) | 5,131,426 | 15.4% |
| GEODE CAPITAL MANAGEMENT, LLC | High Conviction | Market Mover | $5,306,435 (2.6%) | 4,081,222 | 15.6% |
| STATE STREET CORP | High Conviction | Market Mover | $4,911,456 (2.4%) | 3,778,043 | 6.8% |
| JW ASSET MANAGEMENT, LLC | Elite Conviction | Minimal Flow | $4,772,395 (2.3%) | 3,671,073 | 15.0% |
| CONGRESS PARK CAPITAL LLC | High Conviction | Minimal Flow | $3,987,718 (1.9%) | 3,067,475 | 9.5% |
| SHAW D E & CO INC | Moderate Conviction | Market Mover | $3,906,032 (1.9%) | 3,004,640 | - |
| COLONY GROUP, LLC | High Conviction | Significant Flow | $3,570,536 (1.7%) | 148,470 | 15,122.9% |
| NEW YORK STATE COMMON RETIREMENT FUND | High Conviction | Market Mover | $3,349,731 (1.6%) | 2,576,716 | -89.3% |
| CITADEL ADVISORS LLC | Moderate Conviction | Market Mover | $2,776,469 (1.3%) | 2,135,745 | -20.4% |
| UBS Group AG | Moderate Conviction | Market Mover | $2,719,170 (1.3%) | 2,091,669 | -26.5% |
| RENAISSANCE TECHNOLOGIES LLC | High Conviction | Significant Flow | $2,490,670 (1.2%) | 1,915,900 | -30.8% |
| PALE FIRE CAPITAL SE | High Conviction | Low Flow | $1,910,552 (0.9%) | 1,469,655 | 221.8% |
| SCHWAB CHARLES INVESTMENT MANAGEMENT INC | High Conviction | Market Mover | $1,839,937 (0.9%) | 1,415,336 | -54.1% |
| JANE STREET GROUP, LLC | Moderate Conviction | Market Mover | $1,799,839 (0.9%) | 1,384,491 | 494.2% |
| STONEPINE CAPITAL MANAGEMENT, LLC | High Conviction | Minimal Flow | $1,609,143 (0.8%) | 1,237,802 | 50.2% |
| MONACO ASSET MANAGEMENT SAM | High Conviction | Low Flow | $1,602,929 (0.8%) | 1,233,022 | 26.9% |
| NORTHERN TRUST CORP | High Conviction | Market Mover | $1,418,835 (0.7%) | 1,091,411 | -2.7% |
| TWO SIGMA INVESTMENTS, LP | Moderate Conviction | Significant Flow | $1,299,362 (0.6%) | 999,509 | 49.0% |
| GOLDMAN SACHS GROUP INC | High Conviction | Market Mover | $1,286,594 (0.6%) | 989,687 | -22.9% |
| MORGAN STANLEY | Moderate Conviction | Market Mover | $1,253,007 (0.6%) | 963,851 | -59.7% |
| CM MANAGEMENT, LLC | High Conviction | Minimal Flow | $975,000 (0.5%) | 750,000 | 3.2% |
| ORCHARD CAPITAL MANAGMENT, LLC | Elite Conviction | Minimal Flow | $884,562 (0.4%) | 680,432 | 3.7% |
| SQUAREPOINT OPS LLC | Moderate Conviction | Significant Flow | $881,331 (0.4%) | 677,947 | 225.2% |
| RICHMOND BROTHERS, INC. | High Conviction | Minimal Flow | $743,755 (0.4%) | 572,118 | 3.2% |
| TWO SIGMA ADVISERS, LP | High Conviction | Significant Flow | $675,442 (0.3%) | 519,571 | 194.4% |
| PYXIS CAPITAL, L.P. /DE | High Conviction | Low Flow | $618,475 (0.3%) | 475,750 | 3.2% |
| PANAGORA ASSET MANAGEMENT INC | High Conviction | Significant Flow | $572,328 (0.3%) | 440,252 | NEW |
| Bank of New York Mellon Corp | High Conviction | Market Mover | $544,020 (0.3%) | 418,477 | 4.7% |
| AQR CAPITAL MANAGEMENT LLC | High Conviction | Market Mover | $489,189 (0.2%) | 376,300 | -80.0% |
| Nuveen, LLC | High Conviction | Market Mover | $451,185 (0.2%) | 347,065 | 3.2% |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Moderate Conviction | Market Mover | $442,320 (0.2%) | 340,246 | -9.4% |
| CAPTION MANAGEMENT, LLC | Moderate Conviction | Significant Flow | $440,830 (0.2%) | 339,100 | -87.2% |
| Invesco Ltd. | Moderate Conviction | Market Mover | $400,220 (0.2%) | 307,861 | 37.3% |
| BARCLAYS PLC | High Conviction | Market Mover | $394,172 (0.2%) | 303,209 | 12.0% |
| APEIRON RIA LLC | High Conviction | Minimal Flow | $358,756 (0.2%) | 259,968 | 23.8% |
| PALUMBO WEALTH MANAGEMENT LLC | High Conviction | Low Flow | $337,237 (0.2%) | 259,413 | 23.6% |
| CYNDEO WEALTH PARTNERS, LLC | High Conviction | Low Flow | $322,513 (0.2%) | 248,087 | 3.2% |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | High Conviction | Moderate Flow | $314,600 (0.2%) | 242,000 | -64.3% |
| XTX TOPCO LTD | Moderate Conviction | Moderate Flow | $312,256 (0.2%) | 240,197 | 712.6% |
| QUADRATURE CAPITAL LTD | Moderate Conviction | Significant Flow | $296,119 (0.1%) | 227,784 | NEW |
| LOS ANGELES CAPITAL MANAGEMENT LLC | High Conviction | Significant Flow | $283,366 (0.1%) | 248,567 | -8.7% |
| RHUMBLINE ADVISERS | High Conviction | Market Mover | $264,305 (0.1%) | 203,319 | -6.6% |
| ALLIANCEBERNSTEIN L.P. | High Conviction | Market Mover | $258,115 (0.1%) | 198,550 | 3.2% |
| WELLS FARGO & COMPANY/MN | Moderate Conviction | Market Mover | $233,506 (0.1%) | 179,620 | 50.5% |
| QUINN OPPORTUNITY PARTNERS LLC | High Conviction | Low Flow | $227,947 (0.1%) | 175,344 | 3.2% |
| GROUP ONE TRADING, L.P. | Moderate Conviction | Significant Flow | $188,717 (0.1%) | 145,167 | NEW |
| CAPITAL PLANNING ADVISORS, LLC | High Conviction | Minimal Flow | $187,324 (0.1%) | 144,095 | 3.2% |
| BANK OF AMERICA CORP /DE/ | Moderate Conviction | Market Mover | $174,778 (0.1%) | 134,445 | -90.5% |
| RAYMOND JAMES FINANCIAL INC | Moderate Conviction | Market Mover | $156,259 (0.1%) | 120,199 | 11.1% |
| SIMPLEX TRADING, LLC | Moderate Conviction | Market Mover | $148,985 (0.1%) | 114,604 | 451,369.7% |
| BILTMORE FAMILY OFFICE, LLC | High Conviction | Low Flow | $130,000 (0.1%) | 100,000 | 3.2% |
| INTEGRATED WEALTH CONCEPTS LLC | Moderate Conviction | Moderate Flow | $123,726 (0.1%) | 95,174 | - |
| CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. | High Conviction | Significant Flow | $122,212 (0.1%) | 94,009 | 15.9% |
| DEUTSCHE BANK AG\\ | Moderate Conviction | Market Mover | $121,005 (0.1%) | 93,081 | 12.8% |
| METLIFE INVESTMENT MANAGEMENT, LLC | High Conviction | Significant Flow | $114,080 (0.1%) | 87,754 | -2.0% |
| SEARLE & CO. | High Conviction | Minimal Flow | $112,125 (0.1%) | 86,250 | 3.2% |
| FMR LLC | High Conviction | Market Mover | $109,456 (0.1%) | 84,197 | 83.3% |
| MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. | High Conviction | Significant Flow | $92,780 (0.0%) | 71,369 | 2.5% |
| JPMORGAN CHASE & CO | High Conviction | Market Mover | $81,115 (0.0%) | 62,396 | -97.5% |
| COMMONWEALTH EQUITY SERVICES, LLP | Moderate Conviction | Market Mover | $77,250 (0.0%) | 59,426 | 101,544.7% |
| INTECH INVESTMENT MANAGEMENT LLC | High Conviction | Significant Flow | $77,180 (0.0%) | 59,369 | -16.5% |
| STATE OF WYOMING | High Conviction | Low Flow | $76,211 (0.0%) | 58,624 | NEW |
| Cornerstone Select Advisors, LLC (CIK 0002055366) | High Conviction | Minimal Flow | $75,491 (0.0%) | 58,070 | - |
| LPL FINANCIAL LLC | High Conviction | Market Mover | $72,656 (0.0%) | 55,889 | 13.9% |
| HEADLANDS TECHNOLOGIES LLC | High Conviction | Moderate Flow | $66,673 (0.0%) | 51,287 | 166.5% |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | High Conviction | Market Mover | $63,257 (0.0%) | 48,659 | -3.4% |
| ATOM INVESTORS LP | High Conviction | Moderate Flow | $62,631 (0.0%) | 48,178 | NEW |
| ABEL HALL, LLC | High Conviction | Low Flow | $60,029 (0.0%) | 46,176 | NEW |
| CAPTRUST FINANCIAL ADVISORS | High Conviction | Significant Flow | $54,067 (0.0%) | 41,590 | -12.4% |
| PROSPERA FINANCIAL SERVICES | High Conviction | Moderate Flow | $52,734 (0.0%) | 40,565 | -19.0% |
| Police & Firemen's Retirement System of New Jersey | High Conviction | Significant Flow | $49,858 (0.0%) | 38,352 | 3.2% |
| BREVAN HOWARD CAPITAL MANAGEMENT LP | High Conviction | Significant Flow | $45,547 (0.0%) | 35,036 | NEW |
| BNP PARIBAS FINANCIAL MARKETS | Moderate Conviction | Market Mover | $42,731 (0.0%) | 32,870 | -91.0% |
| CONCURRENT INVESTMENT ADVISORS, LLC | High Conviction | Significant Flow | $41,500 (0.0%) | 31,923 | NEW |
| ANFIELD CAPITAL MANAGEMENT, LLC | High Conviction | Low Flow | $39,000 (0.0%) | 30,000 | 3.2% |
| CORECAP ADVISORS, LLC | High Conviction | Moderate Flow | $36,932 (0.0%) | 28,409 | 3.2% |
| PROSHARE ADVISORS LLC | High Conviction | Significant Flow | $36,498 (0.0%) | 28,075 | 10.7% |
| JONES FINANCIAL COS LP | Elite Conviction | Market Mover | $36,342 (0.0%) | 27,955 | 24.7% |
| VOYA INVESTMENT MANAGEMENT LLC | Moderate Conviction | Market Mover | $35,949 (0.0%) | 27,653 | 3.2% |
| VALEO FINANCIAL ADVISORS, LLC | High Conviction | Moderate Flow | $34,706 (0.0%) | 26,697 | -51.4% |
| ACT ADVISORS, LLC. | High Conviction | Minimal Flow | $33,550 (0.0%) | 25,808 | 4.1% |
| VICTORY CAPITAL MANAGEMENT INC | High Conviction | Market Mover | $27,188 (0.0%) | 20,914 | 3.3% |
| ARGENT ADVISORS, INC. | Moderate Conviction | Minimal Flow | $26,000 (0.0%) | 20,000 | 3.2% |
| TOWER RESEARCH CAPITAL LLC | High Conviction | Moderate Flow | $25,211 (0.0%) | 19,393 | 73.8% |
| MARINER, LLC | High Conviction | Market Mover | $24,711 (0.0%) | 18,999 | -45.4% |
| ADVISORY SERVICES NETWORK, LLC | High Conviction | Significant Flow | $24,536 (0.0%) | 18,874 | 2,461.2% |
| StoneX Group Inc. | High Conviction | Moderate Flow | $24,452 (0.0%) | 18,809 | NEW |
| Caitong International Asset Management Co., Ltd | Moderate Conviction | Low Flow | $23,856 (0.0%) | 18,351 | 134.7% |
| NICOLET ADVISORY SERVICES, LLC | High Conviction | Low Flow | $23,840 (0.0%) | 16,000 | 12.9% |
| CAPITAL INVESTMENT COUNSEL, INC | High Conviction | Low Flow | $23,823 (0.0%) | 18,325 | NEW |
| HPM PARTNERS LLC | High Conviction | Market Mover | $22,183 (0.0%) | 17,063 | -66.0% |
Implied Institutional Price History
Estimated from 13F aggregate market value ÷ shares reported across all institutional filers. Reflects quarter-end snapshot, not actual trade prices.
| Quarter | Filers | Institutional Value | Shares Held | Est. Avg Price |
|---|---|---|---|---|
| Q4 25 | 168 | $0.21B | 156,756,795 | $1.32 |
| Q3 25 | 170 | $0.23B | 171,907,578 | $1.32 |
| Q2 25 | 171 | $0.26B | 133,435,252 | $1.98 |
| Q1 25 | 165 | $0.28B | 133,148,335 | $2.11 |
| Q4 24 | 162 | $0.18B | 120,414,274 | $1.51 |
| Q3 24 | 172 | $0.24B | 126,139,076 | $1.94 |
| Q2 24 | 190 | $0.45B | 131,586,385 | $3.43 |
| Q1 24 | 159 | $0.32B | 120,177,338 | $2.66 |
Source: SEC 13F-HR filings. Implied price = aggregate market value ÷ shares reported. Not investment advice.