Nuveen LLC Invests $691,000 in Heron Therapeutics, Inc. $HRTX

Key Points

• Nuveen LLC has acquired a new stake in Heron Therapeutics, purchasing 314,275 shares valued at approximately $691,000, representing 0.21% of the company.
• Insider transactions include Director Adam Morgan buying 1,766,546 shares and Rubric Capital Management purchasing 2,387,225 shares, increasing their positions by 25.28% and 8.94%, respectively.
• Heron Therapeutics reported a quarterly revenue of $37.20 million but missed earnings estimates, reflecting ongoing challenges in the biotechnology sector.

Nuveen LLC acquired a new position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 314,275 shares of the biotechnology company's stock, valued at approximately $691,000. Nuveen LLC owned approximately 0.21% of Heron Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HRTX. Vanguard Group Inc. increased its stake in shares of Heron Therapeutics by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,225,585 shares of the biotechnology company's stock valued at $18,096,000 after buying an additional 67,976 shares during the period. Palisade Capital Management LP lifted its holdings in shares of Heron Therapeutics by 34.7% in the first quarter. Palisade Capital Management LP now owns 5,286,931 shares of the biotechnology company's stock valued at $11,631,000 after purchasing an additional 1,360,542 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Heron Therapeutics during the fourth quarter valued at approximately $4,706,000. AIGH Capital Management LLC purchased a new stake in shares of Heron Therapeutics during the first quarter valued at approximately $6,112,000. Finally, JW Asset Management LLC increased its position in Heron Therapeutics by 2.0% in the first quarter. JW Asset Management LLC now owns 2,337,743 shares of the biotechnology company's stock worth $5,143,000 after buying an additional 45,325 shares during the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

Heron Therapeutics Stock Performance

Shares of NASDAQ:HRTX traded up $0.01 on Monday, hitting $1.32. The stock had a trading volume of 541,901 shares, compared to its average volume of 1,669,382. The firm's 50 day moving average price is $1.71 and its 200-day moving average price is $1.96. Heron Therapeutics, Inc. has a twelve month low of $1.04 and a twelve month high of $2.68. The company has a market capitalization of $201.58 million, a price-to-earnings ratio of -65.75 and a beta of 1.23.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last issued its earnings results on Friday, August 8th. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $37.20 million during the quarter, compared to analysts' expectations of $38.08 million. Heron Therapeutics has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current year.

Insiders Place Their Bets

In related news, Director Adam Morgan acquired 1,766,546 shares of Heron Therapeutics stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $1.50 per share, for a total transaction of $2,649,819.00. Following the completion of the purchase, the director owned 8,753,290 shares in the company, valued at approximately $13,129,935. The trade was a 25.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Rubric Capital Management Lp bought 2,387,225 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $1.50 per share, for a total transaction of $3,580,837.50. Following the acquisition, the insider directly owned 29,100,728 shares of the company's stock, valued at $43,651,092. The trade was a 8.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.86% of the company's stock.

Wall Street Analysts Forecast Growth

HRTX has been the subject of several research analyst reports. Zacks Research raised Heron Therapeutics to a "strong sell" rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC lowered their price target on shares of Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, HC Wainwright started coverage on shares of Heron Therapeutics in a report on Monday, June 9th. They set a "buy" rating and a $6.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.50.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.