Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Heron Therapeutics Inc (HRTX)

160 + 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
↓ -5
Streak
1Q ▼
Buyers last Q
50%

Smart Money Signals — HRTX

Based on 167 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their HRTX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 88% of 3.0Y peak

88% of all-time peak
167 funds currently hold this stock — 88% of the 3.0-year high of 189 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding HRTX is almost the same as a year ago (+2 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 50% buying

82 buying81 selling
Last quarter: 82 funds bought or added vs 81 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.
➡️

Steady new buyers — ~30 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 24 → 18 → 27 → 30. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

62% of holders stayed for 2+ years

■ 62% conviction (2yr+) ■ 21% medium ■ 17% new
103 out of 167 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 +2%, value -38%

Value
-38%
Shares
+2%
Last quarter: funds added +2% more shares while total portfolio value only changed -38%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

25 → 24 → 18 → 27 → 30 new funds/Q
New funds entering each quarter: 24 → 18 → 27 → 30. A growing number of institutions are discovering HRTX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 66% veterans vs 18% newcomers

■ 66% veterans ■ 16% 1-2yr ■ 18% new
Entry-cohort mix of 173 holders: 114 (66%) are 2+ year veterans, 27 entered 1–2 years ago, and 32 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 24% AUM from major funds

24% from top-100 AUM funds
35 of 166 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.8
out of 10
Low Exit Risk
Exit risk score 2.8/10 — 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 2026 Q1, 82 hedge funds were net buyers of HRTX (30 opened a new position, 52 added to an existing one), while 81 reduced or exited (46 trimmed, 35 sold completely) — a 50% buyer ratio, indicating a slight buying edge. 24% of total institutional value in HRTX is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -5 funds (more exits than new entries). Total institutional holders: 167.

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

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

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Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

10 top-rated funds 0 high-conviction
Consensus
4.5
/ 10
breadth
×
Elite
0.9
/ 10
conviction
Hedge Fund Positioning: HRTX
160 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 160 167 -4.19%
13F Shares 137M 161M -14.72%
Total Value $59M $128M -53.79%
New Positions 22 30 -8
Increased Positions 56 51 +5
Closed Positions 28 35 -7
Reduced Positions 41 43 -2
Total Calls 3 4 -25.0%
Total Puts 3 3 -
PUT/CALL Ratio 1.0 0.75 Neutral

Statistics: HRTX

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Institutional Holders (2026 Q2)

160 + investors

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

QUARTER:
Top 25 HRTX holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Velan Capital Investment Management LP 2.28% 8,753,290 $3.7M
2 Tejara Capital Ltd 1.14% 6,510,795 $2.8M
3 JW Asset Management, LLC 0.50% 3,751,073 $1.6M
4 Richmond Brothers, Inc. 0.40% 1,792,319 $765K
5 Clearline Capital LP 0.29% 11,383,961 $4.9M
6 CM Management, LLC 0.27% 1,000,000 $427K
7 Congress Park Capital LLC 0.23% 2,016,447 $861K
8 Tang Capital Management LLC 0.12% 6,250,000 $2.7M
9 Rubric Capital Management LP 0.12% 30,046,828 $12.8M
10 Stonepine Capital Management, LLC 0.10% 490,787 $209K
11 Pale Fire Capital SE 0.08% 2,511,478 $1.1M
12 Apeiron RIA LLC 0.04% 370,579 $158K
13 Redwood Family Wealth LLC 0.04% 105,472 $45K
14 Diadema Partners LP 0.02% 458,723 $196K
15 Xcelsior Advisor Partners LLC 0.02% 405,777 $173K
16 Abel Hall, LLC 0.02% 213,185 $91K
17 Persistent Asset Partners Ltd 0.01% 117,090 $50K
18 Nexpoint Asset Management, L.P. 0.01% 475,750 $203K
19 R Squared Ltd 0.01% 46,708 $20K
20 Searle & CO. 0.01% 86,250 $37K
21 Cornerstone Select Advisors, LLC 0.01% 39,964 $17K
22 TopTier Wealth Management, LLC 0.01% 25,350 $11K
23 Biltmore Family Office, LLC 0.01% 100,000 $43K
24 Caption Management, LLC 0.00% 2,100,000 $896K
25 JMN Financial LLC 0.00% 11,269 $5K
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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their HRTX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for HRTX?

Slight buying edge — 50% buying: Last quarter: 82 funds bought or added vs 81 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?

Strong quality — 24% AUM from major funds: 35 of 166 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held HRTX?

62% of holders stayed for 2+ years: 103 out of 167 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.

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