Franklin Resources Amends Heron Therapeutics Stake as of Dec 31, 2023

TL;DR

**Franklin Resources just updated its Heron Therapeutics stake; watch for market reaction.**

AI Summary

Franklin Resources, Inc. has filed an amendment (SC 13G/A) to its Schedule 13G, indicating a change in its ownership stake in Heron Therapeutics, Inc. /DE/ as of December 31, 2023. This filing, an amendment number 13, updates their previous disclosures regarding their holdings of Heron Therapeutics' Common Stock, par value $0.01 per share. This matters to investors because Franklin Resources is a significant institutional investor, and changes in their holdings can signal their confidence (or lack thereof) in the company's future prospects, potentially influencing other investors' decisions.

Why It Matters

This filing shows an institutional investor, Franklin Resources, has updated its ownership in Heron Therapeutics, which can influence market perception and stock price.

Risk Assessment

Risk Level: low — This is a routine amendment filing by an institutional investor, not indicating any immediate high-risk event.

Analyst Insight

Investors should monitor subsequent filings from Franklin Resources or other major institutional holders to understand the full scope of changes in ownership and potential implications for Heron Therapeutics' stock.

Key Numbers

• 13 — Amendment Number (This is the 13th amendment to the Schedule 13G filing by Franklin Resources, Inc. for Heron Therapeutics, Inc.)
• 427746102 — CUSIP Number (Identifies the specific class of securities (Common Stock of Heron Therapeutics, Inc.))

Key Players & Entities

• Franklin Resources, Inc. (company) — the reporting person and institutional investor
• Heron Therapeutics, Inc. /DE/ (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• $0.01 (dollar_amount) — par value per share of Common Stock

Forward-Looking Statements

• Other institutional investors may review Franklin Resources' updated position in Heron Therapeutics to inform their own investment decisions. (Heron Therapeutics, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• hero23a13.htm (SC 13G/A) — 168KB
• 0000038777-24-000015.txt ( ) — 170KB

If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c),

Item 3. If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a8). (e) [ ] An investment adviser in accordance with 240.13d1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d1(b) (1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d1(b) (1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a3); (j) [ ] A nonU.S. institution in accordance with 240.13d1(b)(ii)(J); (k) [ ] Group, in accordance with 240.13d1(b)(1)(ii)(K). If filing as a nonU.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution:

Ownership

Item 4. Ownership The securities reported herein are beneficially owned by one or more open or closed end investment companies or other managed accounts that are investment management clients of investment managers that are direct and indirect subsidiaries (each, an "Investment Management Subsidiary" and, collectively, the "Investment Management Subsidiaries") of Franklin Resources Inc. ("FRI"), including the Investment Management Subsidiaries listed in this Item 4. When an investment management contract (including a sub advisory agreement) delegates to an Investment Management Subsidiary investment discretion or voting power over the securities held in the investment advisory accounts that are subject to that agreement, FRI treats the Investment Management Subsidiary as having sole investment discretion or voting authority, as the case may be, unless the agreement specifies otherwise. Accordingly, each Investment Management Subsidiary reports on Schedule 13G that it has sole investment discretion and voting authority over the securities covered by any such investment management agreement, unless otherwise noted in this Item 4. As a result, for purposes of Rule 13d3 under the Act, the Investment Management Subsidiaries listed in this Item 4 may be deemed to be the beneficial owners of the securities reported in this Schedule 13G. Beneficial ownership by Investment Management Subsidiaries and other FRI affiliates is being reported in conformity with the guidelines articulated by the SEC staff in Release No. 3439538 (January 12, 1998) (the "1998 Release") relating to organizations, such as FRI, where related entities exercise voting and investment powers over the securities being reported independently from each other. The voting and investment powers held by each of FRI's affiliates whose ownership of securities is disaggregated from that of FRI in accordance with the 1998 Release ("FRI Disaggregated Affiliates") are exer

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person The clients of the Investment Management Subsidiaries, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, the securities reported herein.

Identification and Classification of the Subsidiary Which Acquired the

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company See Attached Exhibit C

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not Applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not Applicable CUSIP NO. 427746102 13G Page 9 of 13

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a11. Exhibits: Exhibit A Joint Filing Agreement Exhibit B Limited Powers of Attorney for Section 13 Reporting Obligations Exhibit C Item 7 Identification and Classification of Subsidiaries SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 22, 2024 Franklin Resources, Inc. Charles B. Johnson Rupert H. Johnson, Jr. By: /s/VIRGINIA ROSAS Virginia Rosas Assistant Secretary of Franklin Resources, Inc. AttorneyinFact for Charles B. Johnson pursuant to Power of Attorney attached to this Schedule 13G AttorneyinFact for Rupert H. Johnson, Jr. pursuant to Power of Attorney attached to this Schedule 13G CUSIP NO. 427746102 13G Page 10 of 13 EXHIBIT A JOINT FILING AGREEMENT In accordance with Rule 13d1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other of the attached statement on Schedule 13G and to all amendments to such statement and that such statement and all amendments to such statement are made on behalf of each of them. IN WITNESS WHEREOF, the undersigned have executed this agreement on January 22, 2024. Franklin Resources, Inc. Charles B. Johnson Rupert H. Johnson, Jr. By: /s/VIRGINIA ROSAS Virginia Rosas Assistant Secretary of Franklin Resources, Inc. Attorn