XTX Topco Ltd Has $186,000 Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Key Points

• XTX Topco Ltd significantly reduced its stake in Heron Therapeutics, Inc. by 71.6%, selling 213,080 shares during the 1st quarter, leaving them with 84,405 shares valued at $186,000.
• Major shareholders, including Rubric Capital Management and Director Adam Morgan, have increased their positions by acquiring substantial shares, indicating a vote of confidence in the company.
• Heron Therapeutics reported a revenue of $37.20 million for the quarter but missed EPS estimates, leading to a reduction in target prices from analysts, with Needham & Company lowering it from $4.00 to $3.00.

XTX Topco Ltd cut its holdings in Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 71.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 84,405 shares of the biotechnology company's stock after selling 213,080 shares during the quarter. XTX Topco Ltd owned about 0.06% of Heron Therapeutics worth $186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HRTX. Valeo Financial Advisors LLC lifted its stake in Heron Therapeutics by 34.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 4,619 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Heron Therapeutics by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,179 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 8,684 shares in the last quarter. ProShare Advisors LLC lifted its stake in Heron Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 33,063 shares of the biotechnology company's stock valued at $51,000 after acquiring an additional 10,880 shares in the last quarter. RFP Financial Group LLC bought a new stake in Heron Therapeutics in the 1st quarter valued at approximately $26,000. Finally, Two Sigma Advisers LP lifted its stake in Heron Therapeutics by 1.5% in the 4th quarter. Two Sigma Advisers LP now owns 823,871 shares of the biotechnology company's stock valued at $1,261,000 after acquiring an additional 12,500 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

Heron Therapeutics Trading Down 1.5%

Shares of Heron Therapeutics stock traded down $0.02 on Friday, reaching $1.33. 1,780,279 shares of the company were exchanged, compared to its average volume of 2,119,901. Heron Therapeutics, Inc. has a one year low of $1.04 and a one year high of $2.68. The company has a market capitalization of $203.88 million, a price-to-earnings ratio of -66.50 and a beta of 1.15. The company has a 50-day moving average of $1.93 and a 200 day moving average of $2.00.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The firm had revenue of $37.20 million during the quarter, compared to the consensus estimate of $38.08 million. Analysts predict that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

HRTX has been the topic of several research reports. Zacks Research upgraded Heron Therapeutics to a "strong sell" rating in a research note on Tuesday, August 12th. Needham & Company LLC cut their target price on Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. HC Wainwright began coverage on Heron Therapeutics in a research note on Monday, June 9th. They set a "buy" rating and a $6.00 price objective on the stock. Finally, Wall Street Zen cut Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Insider Buying and Selling

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

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.