5 WallStreetBets Stocks Gaining in August

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In this article, we discuss 5 WallStreetBets stocks that are gaining in August. If you want to see more stocks in this selection, check out 10 WallStreetBets Stocks Gaining in August

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

Number of Hedge Fund Holders: 20

Share Price Gain in the Last Month as of August 12: 76.08%

Heron Therapeutics, Inc. (NASDAQ:HRTX) is a California-based biotechnology company, engaged in formulating treatments for unmet needs for cancer patients. Redditors are pouring into Heron Therapeutics, Inc. (NASDAQ:HRTX) lately and the stock has climbed about 76% in the last month as of August 12. 

The stock traded 16% higher on August 9 after Heron Therapeutics, Inc. (NASDAQ:HRTX) posted above-consensus earnings and revenue in Q2 2022. The company expects Q3 2022 net product sales for ZYNRELEF, its postoperative pain drug, to increase by 40% to 50% compared to the prior quarter. Additionally, cost cutting activities are forecasted to result in over $50 million in reductions in annual operating expenses in 2023.

According to Insider Monkey’s data, 20 hedge funds were bullish on Heron Therapeutics, Inc. (NASDAQ:HRTX) at the end of Q1 2022, compared to 19 funds in the earlier quarter. Julian Baker and Felix Baker’s Baker Bros. Advisors is the leading stakeholder of the company, with 8.13 million shares worth $46.5 million. 

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