A director just bought 30,500 shares, or about $416,000 worth of stock, at $13.59 to $13.71 per share.

From a technical perspective, AKRX is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been trending sideways for the last month, with shares moving between $12.66 on the downside and $13.77 on the upside. A high-volume move outside of that range soon will likely set up the next major trend for shares of AKRX.

If you're bullish on AKRX, then I would look for long-biased trades if this stock manages to break out above some near-term overhead resistance levels at $13.75 to $13.77 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 868,276 shares. If that breakout triggers soon, then AKRX will set up to re-test or possibly take out its next major overhead resistance levels at $14.50 to $14.95 a share. Any high-volume move above $14.95 will then put $16 to $16.87 into focus for shares of AKRX.

Cumulus Media

Another name in the radio broadcasting sector that insiders are snapping up a large amount of stock in is Cumulus Media ( CMLS). This company owns and operates commercial radio station clusters throughout the United States. Insiders are buying this stock into some notable weakness, since shares are down by 18% so far in 2012.

Cumulus Media has a market cap of $472 million and an enterprise value $3.12 billion. This stock trades at a fair valuation, with a trailing price-to-earnings of 45.93 and a forward price-to-earnings of 12.32. Its estimated growth rate for this year is 146.4%, and for next year it's pegged at 69.2%. This is not a cash-rich company, since the total cash position on its balance sheet is $46.98 million and its total debt is a whopping $2.69 billion.

A director and beneficial owner just bought 1,478,228 shares, or around $3.56 million worth of stock, at $2.40 to $2.47 per share.

From a technical perspective, CMLS is currently trending above its 50-day moving average and just below its 200-day moving average, which is neutral trendwise. This stock has been uptrending strong for the last month, with shares moving from a low of $2.09 to its recent high of $2.73 a share. During that uptrend, shares of CMLS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed CMLS within range of triggering a major breakout trade.

If you liked this article you might like

Verastem Shares Are Exploding 50% -- Here's Why

Otonomy Shares Rebound After Wednesday's Drop- Biotech Movers

Biotech Movers: Array Shares Rise on Bristol-Myers Collaboration

Trevena, Synergy Lead Biotech Movers

These 5 Stocks Under $10 Could Explode Up Soon