5 Most Shorted Stocks to Watch

2. Heron Therapeutics, Inc. (NASDAQ:HRTX)

Float Shorted: 47.95%

Number of Hedge Fund Holders as of December 31: 19

Heron Therapeutics, Inc. (NASDAQ:HRTX) is a San Diego, California-based specialty biotech company that develops new therapeutics by employing its proprietary Biochronomer polymer-based drug delivery platform. The drug delivery system improves the therapeutic profile of injectable pharmaceuticals. Instead of injecting it once or twice per day, the drug can be injected after one or two weeks.

In Q1 2022, Heron Therapeutics, Inc. (NASDAQ:HRTX) recorded an EPS Normalized Actual of -$0.63, missing the analysts’ estimates by $0.11. Moreover, the company reported a net income of -$63.9 million, down 21.43% YoY. Heron Therapeutics, Inc. (NASDAQ:HRTX) stock has lost over 75% of its value in the last year. On May 10, Boris Peaker at Cowen slashed the target price on Heron Therapeutics, Inc. (NASDAQ:HRTX) from $13 to $7.50, citing the company’s current financial overhang.

At the end of Q4 2021, 19 hedge funds held a stake in Heron Therapeutics, Inc. (NASDAQ:HRTX), up from 16 in the previous quarter.