Another stock that insiders are buying up is biopharmaceutical player Ziopharm Oncology ( ZIOP), which is seeking to develop and commercialize a diverse portfolio of in-licensed cancer drugs that can address unmet medical needs. Insiders are buying into strength here since this stock is up over 16% in 2012. Ziopharm Oncology has a market cap of $348 million and an enterprise value of $228 million. This stock trades at a rich valuation, with a price-to-sales of 744.27 and a price-to-book of 4.13. Its estimated growth rate for this year is -53.5%, and for next year it's pegged at -2.8%. This is a cash-rich company, since the total cash position on its balance sheet is $118.93 and its total debt is zero. A director and beneficial owner just bought 1,923,075 shares, or around $10 million worth of stock, at $5.20 per share. From a technical standpoint, ZIOP is currently trading above its 50-day moving average and below its 200-day moving average, which is neutral trendwise. This stock recently found big buying support at around $4.10 to $4.15 a share, and since then it has rallied back above its 50-day moving average toward its current price of $5.30 a share. This stock is now setting up to trigger a big breakout if it can manage to clear some near-term overhead resistance levels. If you're bullish on ZIOP, then one could be a buyer once it triggers a breakout trade above $5.32 to $5.34 (200-day) with strong volume. Look for volume that's near or above its three-month average action of 498,685 shares. At last check, volume today has already surpassed that level and the stock is trading at $5.25 a share. If that breakout triggers either today or in the near future, then traders should look for $5.90 or higher for ZIOP. ZIOP shows up on a list of 13 Stocks Bought and Sold by Hedge Funds for the most recently reported quarter.