Xoma One biotechnology and drugs player that insiders are snapping up a large amount of stock in is Xoma ( XOMA). This company is engaged in the discovery, development and manufacture of therapeutic antibodies and other agents designed to treat inflammatory, autoimmune, infectious and oncological diseases. Insiders are buying this stock into some impressive strength, since shares are up a whopping 136% so far in 2012. Xoma has a market cap of $184 million and an enterprise value of $156 million. Its estimated growth rate for this year is -13.5%, and for next year it's pegged 38.1%. This is a cash-rich company, since the total cash position on its balance sheet is $66.91 million and its total debt is $34.47 million. When you back out the debt, Xoma has a total of $32.44 million of cash on its books. A director and beneficial owner just bought 4,722,666 shares, or about $4.72 million worth of stock, at $3.00 per share. From a technical perspective, XOMA is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending for the last two months, with shares dropping from $4.03 to its recent low of $2.68 a share. During that downtrend, shares of XOMA have been consistently making lower highs and lower lows, which is bearish technical price action. That said, the stock has now entered oversold territory with its current relative strength index (RSI) reading at 27.8. If you're bullish on XOMA, then I would look for long-biased trades once this stock manages to break out above some near-term overhead resistance levels at $2.72 to $2.95 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 502,070 shares. If that breakout triggers soon, then look for XOMA to re-test or possibly take out its next major overhead resistance levels at $3.39 to $3.44 a share. Any high-volume move above those levels would then give XOMA a chance to run back towards $4 a share. Questcor Pharmaceuticals Another name in the biotechnology and drugs complex that insiders are jumping into here is Questcor Pharmaceuticals ( QCOR). This company provides prescription drugs for the treatment of multiple sclerosis, nephrotic syndrome, and infantile spasms indications. Its products include H.P. Acthar Gel and Doral. Insiders are buying this stock into some extreme weakness, since shares are down by 38% so far in 2012.