Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

HERON THERAPEUTICS INC (HRTX)

174 + Investors. Track Smart Money conviction in HRTX. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +4
Streak
1Q ▲
Buyers last Q
55%

Smart Money Signals — HRTX

Based on 171 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added HRTX than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
📊

High ownership — 91% of 3.0Y peak

91% of all-time peak
171 funds currently hold this stock — 91% of the 3.0-year high of 188 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶

Steady growth — +8% more funds vs a year ago

fund count last 6Q
+12 new funds entered over the past year (+8% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 3 quarters from the low — a sharp move.
🟡

Slight buying edge — 55% buying

84 buying68 selling
Last quarter: 84 funds bought or added vs 68 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+11 vs last Q)

new funds entering per quarter
Funds opening a new HRTX position: 25 → 22 → 16 → 27. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

61% of holders stayed for 2+ years

■ 61% conviction (2yr+) ■ 25% medium ■ 14% new
104 out of 171 hedge funds have held HRTX for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +1%, value -84%

Value
-83%
Shares
+1%
Last quarter: funds added +1% more shares while total portfolio value only changed -84%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~27 new funds/quarter

24 → 25 → 22 → 16 → 27 new funds/Q
New funds entering each quarter: 25 → 22 → 16 → 27. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 66% of holders stayed 2+ years

■ 66% veterans ■ 13% 1-2yr ■ 21% new
Of 174 current holders: 115 (66%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
📋

Smaller funds dominant — 17% AUM from top-100

17% from top-100 AUM funds
25 of 171 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — HRTX

In 2025 Q4, 84 hedge funds were net buyers of HRTX (27 opened a new position, 57 added to an existing one), while 68 reduced or exited (45 trimmed, 23 sold completely) — a 55% buyer ratio, indicating a slight buying edge. Net fund flow last quarter: +4 funds (more new holders than closures). Total institutional holders: 171.

Hedge Fund Ownership: HRTX

How many hedge funds hold HRTX — quarterly history vs. share price
Quarterly hedge fund ownership of HRTX vs. share price

Market Analysis: HRTX

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: HRTX

Healthcare Biotechnology

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

11 top-rated funds 0 high-conviction
Consensus
4.7
/ 10
breadth
×
Elite
1.2
/ 10
conviction
Hedge Fund Positioning: HRTX
2026 Q1 Stats Unlock in 7 days 174 + Investors

Track Smart Money conviction in HRTX. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 174 171 1.75%
13F Shares 157M 155M 1.46%
Total Value $207M $1.26B -83.61%
New Positions 27 16 +11
Increased Positions 59 62 -3
Closed Positions 23 19 +4
Reduced Positions 51 55 -4
Total Calls 3 1 200.0%
Total Puts 1 3 -66.67%
PUT/CALL Ratio 0.33 3.0 Bullish

Statistics: HRTX

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Financial Highlights

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Institutional Holders (2026 Q1)

174 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in HRTX. Verified SEC 13F-HR filings.

Top 25 institutional holders of HRTX — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Tejara Capital Ltd 1.67% 6,336,755 $5.1M
2 JW Asset Management, LLC 1.23% 3,751,073 $3.0M
3 Congress Park Capital LLC 0.99% 4,032,737 $3.2M
4 Richmond Brothers, Inc. 0.77% 1,436,705 $1.1M
5 CM Management, LLC 0.67% 1,000,000 $800K
6 Monaco Asset Management SAM 0.13% 858,122 $687K
7 Palumbo Wealth Management LLC 0.08% 412,496 $330K
8 Apeiron RIA LLC 0.06% 305,668 $245K
9 Cutter & CO Brokerage, Inc. 0.02% 36,465 $80K
10 TopTier Wealth Management, LLC 0.02% 37,350 $30K
11 SEARLE & CO. 0.02% 86,250 $69K
12 R Squared Ltd 0.01% 33,615 $27K
13 Biltmore Family Office, LLC 0.01% 100,000 $80K
14 ACT Advisors, LLC. 0.01% 28,443 $23K
15 Anfield Capital Management, LLC 0.01% 30,000 $24K
16 NINE MASTS CAPITAL Ltd 0.01% 53,399 $43K
17 GSA CAPITAL PARTNERS LLP 0.01% 105,064 —
18 HORAN Wealth, LLC 0.01% 41,590 $54K
19 ANCHYRA PARTNERS LLC 0.00% 18,043 $14K
20 Argent Advisors, Inc. 0.00% 20,000 $16K
21 DLK Investment Management, LLC 0.00% 11,690 $9K
22 King Wealth Management Group 0.00% 32,799 —
23 Abel Hall, LLC 0.00% 16,907 $14K
24 NEW YORK STATE COMMON RETIREMENT FUND 0.00% 2,576,716 $2.1M
25 Forum Finance Group S.A. 0.00% 8,500 —
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — HERON THERAPEUTICS INC (HRTX)

What does the Smart Money Trend signal show for HRTX?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added HRTX than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for HRTX?

Slight buying edge — 55% buying: Last quarter: 84 funds bought or added vs 68 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for HRTX holders?

Smaller funds dominant — 17% AUM from top-100: 25 of 171 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held HRTX?

61% of holders stayed for 2+ years: 104 out of 171 hedge funds have held HRTX for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.