Two Sigma Investments LP Reduces Stake in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Two Sigma Investments LP trimmed its position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 29.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 990,169 shares of the biotechnology company's stock after selling 411,906 shares during the quarter. Two Sigma Investments LP owned approximately 0.65% of Heron Therapeutics worth $1,515,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HRTX. Point72 Asset Management L.P. acquired a new position in Heron Therapeutics during the fourth quarter worth $4,706,000. Tang Capital Management LLC boosted its stake in Heron Therapeutics by 15.7% during the fourth quarter. Tang Capital Management LLC now owns 2,140,271 shares of the biotechnology company's stock worth $3,275,000 after buying an additional 290,271 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Heron Therapeutics by 3.2% in the 4th quarter. New York State Common Retirement Fund now owns 1,321,006 shares of the biotechnology company's stock valued at $2,021,000 after purchasing an additional 41,062 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Heron Therapeutics by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,105,803 shares of the biotechnology company's stock valued at $1,692,000 after purchasing an additional 9,418 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Heron Therapeutics by 9.5% in the 4th quarter. Bank of America Corp DE now owns 1,046,790 shares of the biotechnology company's stock valued at $1,602,000 after purchasing an additional 90,862 shares during the last quarter. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Heron Therapeutics Stock Down 2.0%

NASDAQ HRTX traded down $0.04 during trading hours on Thursday, hitting $2.00. 786,425 shares of the company were exchanged, compared to its average volume of 2,235,944. The company has a 50 day moving average of $2.02 and a two-hundred day moving average of $1.85. Heron Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $3.93. The firm has a market cap of $305.13 million, a price-to-earnings ratio of -11.11 and a beta of 1.33.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $38.90 million for the quarter, compared to analysts' expectations of $37.08 million. On average, equities research analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HRTX shares. Wall Street Zen lowered Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $4.00 price target on shares of Heron Therapeutics in a research note on Friday, April 11th.

About Heron Therapeutics

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.