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Do you consider yourself a contrarian? If you look for investing opportunities against the market's trends, your answer might be yes.

We ran a screen with this idea in mind, beginning with the biotech industry. We screened US-traded biotech stocks for those with currently bearish market sentiment, with float shorts above 10%.

We then screened these names for those with the confidence of their company insiders, such as members of the board and upper management, with significant net insider purchases over the last six months representing at least 2% of share float.

Since most companies only have a handful of company insiders, net insider purchases representing 2% of share float is a big show of confidence in their employer's prospects.

Interactive Chart: Press Play to compare changes in market cap over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you share these insiders' optimism for their employers? Use this list as a starting point for your own analysis.

List sorted by net insider purchases as a percent of share float.

1. Incyte Corporation (INCY): Focuses on the discovery and development of proprietary small molecule drugs for hematologic and oncology indications, and inflammatory and autoimmune diseases. Market cap at $2.87B, most recent closing price at $22.61. Float short at 12.46%. Over the last six months, insiders were net buyers of 4,476,050 shares, which represents about 3.54% of the company's 126.59M share float.

2. ViroPharma Inc. (VPHM): Engages in the development and commercialization of products that address serious diseases with a focus on products used by physician specialists or in hospital settings in the United States and internationally. Market cap at $1.37B, most recent closing price at $19.89. Float short at 13.33%. Over the last six months, insiders were net buyers of 2,020,227 shares, which represents about 3.22% of the company's 62.83M share float.

3. ZIOPHARM Oncology, Inc. (ZIOP): Focuses on the development and commercialization of in-licensed cancer drugs in North America. Market cap at $220.95M, most recent closing price at $4.50. Float short at 13.86%. Over the last six months, insiders were net buyers of 1,351,460 shares, which represents about 2.53% of the company's 53.46M share float.

*Insider data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 3 Highly Shorted Biotech Stocks Being Bought Up By Insiders