A biotechnology stock that insiders are snapping up shares in here is Cyclacel Pharmaceuticals ( CYCC), which is engaged in the development and commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious diseases. Insiders are buying this stock into extreme weakness, since shares are down by 44% so far in 2013. Cyclacel Pharmaceuticals has a market cap of $36 million and an enterprise value $21 million. This stock trades at a premium valuation, with a price-to-sales of 125.85 and a price-to-book of 3.46. This is a cash-rich company, since the total cash position on its balance sheet is $14.14 million and its total debt is zero. The president just bought 100,000 shares, or $300,000 worth of stock, at $3.00 per share. The president also just bought another 100,000 shares, or $300,000 worth of stock, at $3.00 per share. From a technical perspective, CYCC is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending badly for the last three months, with shares dropping from its high of $6.05 to its recent low of $2.91 a share. During that downtrend, shares of CYCC have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of CYCC have started to bounce off that $2.91 low and off of oversold levels, since its relative strength index recently dipped well under 30. If you're bullish on CYCC, then look for long-biased trades as long as this stock is trending above $3.20 or above $3 and then once it breaks out above some near-term overhead resistance at $3.64 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 219,831 shares. If that breakout triggers soon, then CYCC will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day of $4.58 a share or its 200-day at $5.10 a share.