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CRIS: Insiders Vs. Shorts

So it would stand to reason that should some unexpectedly good news come out, and short sellers did not have 6 days of patience but instead wanted to cover their short positions very suddenly, that situation could result in sending the stock higher until the higher price produces enough sellers to generate the necessary volume to close out those positions quickly.

Curis Inc (CRIS) has something relatively rare for a stock with this much short interest, that being insiders taking the other side of the trade. Looking back over the trailing six month period, CRIS has seen 2 different instances of insider buying, as summarized by the table below:

Purchased Insider Title Shares Price/Share Value
08/16/2013 James R. McNab Director 50,000 $4.00 $200,000.00
11/08/2013 Kenneth Pienta Director 20,000 $2.95 $59,000.00
09/16/2013 Kenneth Pienta Director 10,000 $4.37 $43,691.00

Below is a chart showing the "days to cover" for CRIS over time:

2 of 3

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