The last name to look at with some monster insider buying is biotechnology and drugs player Synta Pharmaceuticals ( SNTA), which is focused on discovering, developing, and commercializing small molecule drugs to severe the medical conditions of the patients with cancer and inflammatory diseases. Insiders are buying this stock into strength, since shares are up around 40% so far in 2012. Synta Pharmaceuticals has a market cap of $377.92 million and an enterprise value of $337.02 million. This stock trades at a premium valuation, with a price-to-sales of 57.36 and a price-to-book of 11.19. Its estimated growth rate for this year is -5%, and for next year it's pegged at 1%. This is a cash-rich company, since the total cash position on its balance sheet is $57.39 million and its total debt is $16.49 million. >>22 Biopharma Stocks With Breakout Potential in 2012 A director and beneficial owner just bought 59,528 shares, or about $4.99 million worth of stock, at $5.45 per share. Another director also just bought 150,000 shares, or about $801,000 worth of stock, at $5.35 per share. From a technical perspective, SNTA is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock recently made a monster run off its May low of $3.71 to a 52-week high of $8.50 a share. After making that share run higher, the stock went on to gap down big with heavy volume to a low of $4.40 a share. Following that gap-down, the stock has made an amazing snapback rally in just a few weeks with shares ripping to the upside to its recent high of $7 a share. If you're bullish on SNTA, then I would look for long-biased trades once this stock triggers a near-term breakout above some overhead resistance at $7 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 805,016 shares. If we get that move soon, then SNTA will setup to re-test and possibly take out its 52-week high of $8.50 a share. Whenever I see a stock fill a huge gap-down that quickly with volume, it's usually very bullish activity. I would simply avoid SNTA if it fails to trigger that breakout, and then moves back below some major near-term support at $6 a share with high-volume. A high-volume move below $6 could setup SNTA to re-test its 50-day moving average of $5.17 a share. Bulls on SNTA can revisit this stock back near the 50-day for possibly long entries if we fail to get that breakout soon. To see more stocks with notable insider buying, including Vistaprint ( VPRT), Urologix ( ULGX) and Anthera Pharmaceuticals ( ANTH), check out the Stocks With Big Insider Buying portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.