Another biotechnology stock whose insiders are loading up on shares is GTx ( GTXI), a biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules that targets hormone pathways to treat cancer, osteoporosis and bone loss, muscle loss and other serious medical conditions. This stock is off to a red-hot start in 2011, with shares up over 79%. Clearly, insiders are still finding value in GTXI since they're paying up to own shares. This company has a market cap of $246 million and an enterprise value of $194 million. GTx is a cash-rich company, with over $49 million in cash on their balance sheet and zero debt. The company recently announced a public offering of 10 million shares of its common stock at an offering price of $4.75 per share. GTx plans to use the new capital for clinical development, research and development and general corporate purposes. GTx's chairman just bought 975,000 shares or $4,631,250 worth of stock at $4.75 per share. This same chairman also made some large direct purchases of stock back in late 2010 at $2.80 per share. From a technical standpoint, this stock sold off hard during the past couple of weeks from its 52-week high of $6.86 a share to its current price of around $4.77. The stock is now trading below its 50-day moving average of $5.35 and above its 200-day moving average of $3.51 a share. If you're interested in buying this stock, I would buy on any weakness and use a mental stop at around $4.26 to $4, depending on your risk tolerance. A move below $4 would make me avoid this stock for now from the long side. I would add to any purchases once GTXI trades above its 50-day moving average on heavy volume. It's worth nothing that this is a heavily shorted stock. The current short interest as a percentage of the float for GTXI is a rather large 22.4%. The bears have also been increasing their bets from the last reporting period by around 7.9%, or by 237,500 shares. GTXI shows up on a recent list of 10 Cheap Biotech Stocks That Could Soar.