Summers Value Fund’s Short Position in Oyster Point Pharma (OYST) Contributed to its Q2 Performance

Summers Value Partners, an asset management company, released its “The Summers Value Fund LP” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the first half of 2022, the fund returned -25.9% net of all expenses. The overall market condition affected the performance of the fund and it underperformed compared to all benchmark indexes. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Summers Value Partners discussed stocks like Oyster Point Pharma, Inc. (NASDAQ:OYST). Headquartered in Princeton, New Jersey, Oyster Point Pharma, Inc. (NASDAQ:OYST) is a biopharmaceutical company. On September 1, 2022, Oyster Point Pharma, Inc. (NASDAQ:OYST) stock closed at $6.28 per share. One-month return of Oyster Point Pharma, Inc. (NASDAQ:OYST) was -18.97% and its shares lost 54.26% of their value over the last 52 weeks. Oyster Point Pharma, Inc. (NASDAQ:OYST) has a market capitalization of $168.502 million.

Here is what Summers Value Partners specifically said about Oyster Point Pharma, Inc. (NASDAQ:OYST):

“The biggest contributor in the period was Natus Medical (NTUS) followed by our short position in Oyster Point Pharma, Inc. (NASDAQ:OYST). In April, it was announced that Natus would be acquired by private equity firm, Archimed, for $33.50 per share. The deal was approved by shareholders in early July and should close in the third quarter. Our short position in Oyster Point paid off as the launch of Tyrvaya for dry eye disappointed lofty investor expectations. We covered our position in the second quarter below $4 per share.”

wavebreakmedia/Shutterstock.com

Oyster Point Pharma, Inc. (NASDAQ:OYST) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Oyster Point Pharma, Inc. (NASDAQ:OYST) was held by 6 hedge fund portfolios at the end of the second quarter, which was 5 in the previous quarter.

We discussed Oyster Point Pharma, Inc. (NASDAQ:OYST) in another article and shared the list of stocks to invest in under $20 according to Sio Capital. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.