Baker Bros. Advisors’s Heron Therapeutics HRTX Stock Holding History

Baker Bros. Advisors’s Portfolio HRTX Stock Details HRTX Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-4,251,951	Closed	-$5.36M	–	92
2025 Q3	$5.36M	Buy	+4,251,951	New	+$6.74M	0.04%	72
2023 Q4	–	Sell	-8,131,678	Closed	-$8.38M	–	93
2023 Q3	$8.38M	Hold	8,131,678	–	–	0.05%	50
2023 Q2	$9.43M	Hold	8,131,678	–	–	0.05%	59
2023 Q1	$12.3M	Hold	8,131,678	–	–	0.07%	47
2022 Q4	$20.3M	Hold	8,131,678	–	–	0.12%	41
2022 Q3	$34.3M	Hold	8,131,678	–	–	0.22%	33
2022 Q2	$22.7M	Hold	8,131,678	–	–	0.13%	45
2022 Q1	$46.5M	Hold	8,131,678	–	–	0.27%	30
2021 Q4	$74.2M	Hold	8,131,678	–	–	0.36%	24
2021 Q3	$86.9M	Hold	8,131,678	–	–	0.38%	21
2021 Q2	$126M	Buy	8,131,678 +2,136,974	+36%	+$34M	0.55%	17
2021 Q1	$97.2M	Hold	5,994,704	–	–	0.42%	23
2020 Q4	$127M	Hold	5,994,704	–	–	0.48%	17
2020 Q3	$88.8M	Sell	5,994,704 -23,400	-0.4%	-$365K	0.36%	18
2020 Q2	$88.5M	Hold	6,018,104	–	–	0.39%	21
2020 Q1	$70.7M	Hold	6,018,104	–	–	0.44%	20
2019 Q4	$141M	Hold	6,018,104	–	–	0.75%	15
2019 Q3	$111M	Hold	6,018,104	–	–	0.76%	14
2019 Q2	$112M	Buy	6,018,104 +1,000,000	+20%	+$20M	0.76%	15
2019 Q1	$123M	Hold	5,018,104	–	–	0.79%	14
2018 Q4	$130M	Sell	5,018,104 -7,194	-0.1%	-$198K	1.07%	11
2018 Q3	$159M	Hold	5,025,298	–	–	1.05%	11
2018 Q2	$195M	Hold	5,025,298	–	–	1.47%	9
2018 Q1	$139M	Buy	5,025,298 +1,964,657	+64%	+$44.6M	1.18%	11
2017 Q4	$55.4M	Buy	3,060,641 +272,649	+10%	+$4.45M	0.48%	24
2017 Q3	$45M	Buy	2,787,992 +4,423	+0.2%	+$69.4K	0.37%	21
2017 Q2	$38.6M	Hold	2,783,569	–	–	0.34%	21
2017 Q1	$41.8M	Buy	2,783,569 +400,000	+17%	+$5.54M	0.34%	22
2016 Q4	$31.2M	Sell	2,383,569 -473,681	-17%	-$7.43M	0.31%	25
2016 Q3	$49.2M	Hold	2,857,250	–	–	0.45%	23
2016 Q2	$51.6M	Sell	2,857,250 -50,534	-2%	-$987K	0.54%	19
2016 Q1	$55.2M	Hold	2,907,784	–	–	0.58%	24
2015 Q4	$77.6M	Hold	2,907,784	–	–	0.64%	23
2015 Q3	$71M	Buy	2,907,784 +100,000	+4%	+$3.33M	0.66%	19
2015 Q2	$87.5M	Buy	2,807,784 +200,000	+8%	+$3.76M	0.77%	19
2015 Q1	$37.9M	Hold	2,607,784	–	–	0.32%	29
2014 Q4	$26.2M	Hold	2,607,784	–	–	0.27%	35
2014 Q3	$21.7M	Hold	2,607,784	–	–	0.27%	36
2014 Q2	$32.1M	Buy	2,607,784 +440,000	+20%	+$5.26M	0.39%	31
2014 Q1	$30.2M	Buy	+2,167,784	New	+$29M	0.38%	34

Other funds holding HRTX

RCMNY

Rubric Capital Management (New York) New York $9.44B AUM 68.42% 1-Year Est. Return

Clearline Capital New York $1.93B AUM 38.13% 1-Year Est. Return

Adage Capital Partners Boston, Massachusetts $64.8B AUM 42.7% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

VCIM

Velan Capital Investment Management Alpharetta, Georgia $160M AUM 517.12% 1-Year Est. Return

Millennium Management New York $240B AUM 35.51% 1-Year Est. Return

PCM

Palisade Capital Management Fort Lee, New Jersey $3B AUM 14% 1-Year Est. Return

TCM

Tang Capital Management San Diego, California $1.97B AUM 125.1% 1-Year Est. Return

Tejara Capital London, United Kingdom $303M AUM 5.43% 1-Year Est. Return

Baker Bros. Advisors's HRTX Position: Q4 2025 in Review

Baker Bros. Advisors sold out of Heron Therapeutics (HRTX) in Q4 2025, closing a stake of 4,251,951 shares — an estimated $5.36M sold.

Baker Bros. Advisors first reported a position in HRTX in Q1 2014 and held it in 40 quarters. The position peaked at $195M in Q2 2018. 170 funds tracked by Wall St. Rank hold HRTX as of Q4 2025.

Baker Bros. Advisors reported no remaining Heron Therapeutics position as of Q4 2025 after selling out during the quarter.
Baker Bros. Advisors sold 4,251,951 Heron Therapeutics shares in Q4 2025, an estimated $5.36M.
Baker Bros. Advisors first reported a position in Heron Therapeutics in Q1 2014 and held it in 40 quarters.
Baker Bros. Advisors's Heron Therapeutics position peaked at $195M in Q2 2018.
170 funds tracked by Wall St. Rank held Heron Therapeutics as of Q4 2025.

Based on Baker Bros. Advisors's 13F filing for Q4 2025, filed 17 Feb 2026.