In the biotechnology and drugs complex, insiders are loading up on Synageva BioPharma ( GEVA), which is focused on the discovery, development and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical needs. Insiders are buying this stock into some big-time strength here, since shares are up over 80% so far in 2012. Synageva BioPharma has a market cap of $1.04 billion and an enterprise value of $903 million. This stock trades at a premium valuation, with a price-to-sales of 235.20 and a price-to-book of 6.85. Its estimated growth rate for this year is 78.6%, and for next year it's pegged at -51.10%. This is a cash-rich company, since the total cash position on its balance sheet is $138.92 million, and its total debt is zero. >>5 Biotech Stocks Under $10 Set to Soar A director and beneficial owner just bought 886,000 shares, or about $36.5 million worth of stock, at $41.20 per share. Another director also just bought 73,000 shares, or about $3 million worth of stock, at $41.20 per share. From a technical perspective, GEVA is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock triggered a major breakout trade back in late June once it started to move above some past overhead resistance at $40.38 with massive upside volume. Following that trigger, shares of GEVA pulled back briefly to around $40 a share, and then took off to hit its recent 52-week high of $49.93 a share. That move has started to push GEVA into overbought territory, since its current relative strength index reading is 80.42. If you're in the bull camp on GEVA, then I would wait for this stock to pullback significantly since it's extended by almost ten points above its 50-day moving average of $39.28 a share, and it's almost twenty points above its 200-day moving average of $30.36 a share. Look for a buying opportunity in GEVA once it pulls back closer to its 50-day moving average of $39.28 a share, at let's say $42 to $40 a share if we get it.