Heron Therapeutics Inc (HRTX): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

Q: Is it too late to buy Heron Therapeutics Inc (HRTX) following the 2026 Q1 hedge fund 13F filings?

As of today, HRTX has moved -50.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +3.0% for the XLV sector ETF — an outperformance of -53.6%. Since the quarter end (March 31, 2026), HRTX gained -47.5% vs +1.9% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Heron Therapeutics Inc (HRTX)

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

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 — 89% of 3.0Y peak

89% of all-time peak

167 funds currently hold this stock — 89% 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.

〰️

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 — 51% buying

82 buying80 selling

Last quarter: 82 funds bought or added vs 80 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: 23 → 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%

+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 → 23 → 18 → 27 → 30 new funds/Q

New funds entering each quarter: 23 → 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.

📋

Smaller funds dominant — 18% AUM from top-100

18% from top-100 AUM funds

33 of 166 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

2.9

out of 10

Low Exit Risk

Exit risk score 2.9/10 — 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.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	165	171	-3.51%
13F Shares	160M	157M	2.23%
Total Value	$128M	$207M	-38.19%
New Positions	29	27	+2
Increased Positions	51	55	-4
Closed Positions	35	26	+9
Reduced Positions	42	45	-3
Total Calls	4	3	33.33%
Total Puts	3	1	200.0%
PUT/CALL Ratio	0.75	0.33	Neutral

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

165

171

-3.51%

13F Shares

160M

157M

2.23%

Total Value

$128M

$207M

-38.19%

New Positions

Increased Positions

-4

Closed Positions

Reduced Positions

-3

Total Calls

33.33%

Total Puts

200.0%

PUT/CALL Ratio

0.75

0.33

Neutral

Institutional Holders (2026 Q1)

165 + 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:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 HRTX holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Velan Capital Investment Management LP	4.39%	8,753,290	$7.0M
2	Tejara Capital Ltd	1.67%	6,336,755	$5.1M
3	JW Asset Management, LLC	1.23%	3,751,073	$3.0M
4	Congress Park Capital LLC	0.99%	4,032,737	$3.2M
5	Richmond Brothers, Inc.	0.77%	1,436,705	$1.1M
6	CM Management, LLC	0.67%	1,000,000	$800K
7	Orchard Capital Management, LLC	0.57%	680,432	$544K
8	Clearline Capital LP	0.51%	12,235,239	$9.8M
9	Stonepine Capital Management, LLC	0.45%	1,402,191	$1.1M
10	Stonepine Capital Management, LLC	0.32%	1,000,000	$800K
11	Rubric Capital Management LP	0.25%	30,046,828	$24.0M
12	Tang Capital Management LLC	0.25%	6,250,000	$5.0M
13	Pale Fire Capital SE	0.19%	2,716,328	$2.2M
14	Palisade Capital Management, LP	0.16%	6,140,639	$4.9M
15	Orbimed Advisors LLC	0.16%	9,816,940	$7.9M
16	Monaco Asset Management SAM	0.13%	858,122	$687K
17	Excelsior Advisor Network LLC	0.09%	285,609	$229K
18	Palumbo Wealth Management LLC	0.08%	412,496	$330K
19	Apeiron RIA LLC	0.06%	305,668	$245K
20	Redwood Family Wealth LLC	0.05%	64,500	$52K
21	Cornerstone Select Advisors, LLC	0.03%	59,414	$48K
22	Nexpoint Asset Management, L.P.	0.03%	475,750	$381K
23	Cutter & CO Brokerage, Inc.	0.02%	36,465	$80K
24	TopTier Wealth Management, LLC	0.02%	37,350	$30K
25	Searle & CO.	0.02%	86,250	$69K

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 — 51% buying: Last quarter: 82 funds bought or added vs 80 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 — 18% AUM from top-100: 33 of 166 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

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.

Is it too late to buy Heron Therapeutics Inc (HRTX) following the 2026 Q1 hedge fund 13F filings?

As of today, HRTX has moved -50.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +3.0% for the XLV sector ETF — an outperformance of -53.6%. Since the quarter end (March 31, 2026), HRTX has gained -47.5% vs +1.9% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

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.

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Heron Therapeutics Inc (HRTX)

Smart Money Signals — HRTX

Selling streak — 1 quarter in a row

High ownership — 89% of 3.0Y peak

Stable — ownership unchanged year-over-year

Slight buying edge — 51% buying

Steady new buyers — ~30 new funds per quarter

62% of holders stayed for 2+ years

Buying through price weakness — shares +2%, value -38%

Growing discovery — still being found

Veteran-anchored — 66% veterans vs 18% newcomers

Smaller funds dominant — 18% AUM from top-100

Institutional Sentiment Summary — HRTX

Hedge Fund Ownership: HRTX

Market Analysis: HRTX

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: HRTX

Is It Too Late to Buy Heron Therapeutics Inc (HRTX) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: HRTX

Statistics: HRTX

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Heron Therapeutics Inc (HRTX)

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