Heron Therapeutics
HRTX
170 hedge funds and large institutions have $207M invested in Heron Therapeutics in 2025 Q4 according to their latest regulatory filings, with 25 funds opening new positions, 56 increasing their positions, 44 reducing their positions, and 25 closing their positions.
1,633% more call options, than puts
Call options by funds: $520K | Put options by funds: $30K
27% more repeat investments, than reductions
Existing positions increased: 56 | Existing positions reduced: 44
7% more capital invested
Capital invested by funds: $192M → $207M (+$14.4M)
2.06% more ownership
Funds ownership: 83.28% → 85.34% (+2.1%)
0% more first-time investments, than exits
New positions opened: 25 | Existing positions closed: 25
1% less funds holding
Funds holding: 172 → 170 (-2)
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$8.55M |
| 2 |
TCM
Tang Capital Management
San Diego,
California
|
+$3.46M |
| 3 |
CC
Clearline Capital
New York
|
+$3.11M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
+$1.68M |
| 5 |
Jane Street
New York
|
+$1.42M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BBA
Baker Bros. Advisors
New York
|
-$5.36M |
| 2 |
Citigroup
New York
|
-$3.05M |
| 3 |
AQR Capital Management
Greenwich,
Connecticut
|
-$1.93M |
| 4 |
Morgan Stanley
New York
|
-$1.86M |
| 5 |
Marshall Wace
London,
United Kingdom
|
-$1.65M |
HRTX Hedge Fund Activity: Q4 2025 in Review
170 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Heron Therapeutics (HRTX) for Q4 2025, worth a combined $207M — up 7.5% from $192M a quarter earlier.
Fund positioning in HRTX was balanced in Q4 2025: 25 funds opened new positions, 25 closed out, 56 added to existing stakes and 44 trimmed.
The largest buyer was Millennium Management, adding an estimated $8.55M. The largest seller was Baker Bros. Advisors, exiting entirely with an estimated $5.36M sold.
- 170 institutional investors held Heron Therapeutics (HRTX) as of Q4 2025, down from 172 in Q3 2025.
- Funds reported $207M of Heron Therapeutics stock for Q4 2025, up 7.5% quarter-over-quarter.
- 25 funds opened new Heron Therapeutics positions in Q4 2025 and 25 closed out, a net change of 0 holders.
- The largest Heron Therapeutics buyer in Q4 2025 was Millennium Management, an estimated $8.55M added.
- The largest Heron Therapeutics seller in Q4 2025 was Baker Bros. Advisors, an estimated $5.36M sold.
Based on aggregated 13F filings for Q4 2025.