Saturday, June 25, 2022

Penny Stock Arrayit Corp (OTCMKTS:ARYC) Breaks Out

Arrayit Corp (OTCMKTS:ARYC) is a micro-cap name that has grabbed hold of the attention of traders during the stock’s recent bounce. We have seen a clear bullish ascending triangle breakout accelerate in recent days with the move above $0.008/share. There hasn’t been any news attached to the name, but we have noted some growing buzz among typical OTC outlets, forums, and the like. And the action in the stock has certainly looked good from a technical standpoint. The breakout we have seen in recent days is support by a serious basing process that could have some real follow through if the stock continues to see such a growth in interest.

The main argument that has been presented to explain the big action is a sudden awakening to the company’s prior posted revenues. This seems like a very unlikely narrative. More likely, the company is moving toward a coming announcement and inside circles leak like a sieve. Hence, folks in the know are piling in, and most of us will find out why in a few days. That said, here’s a decent summary of what we do know now.

Arrayit Corp (OTCMKTS:ARYC) bills itself as a company that, according to management, “leads professionals in the microarray industry by developing, manufacturing and marketing life science tools and integrated laboratory platforms for the analysis of genetic variation, biological function, and diagnostics.”

Arrayit provides it specialized equipment, tools, microarray manufacturing services to more than 10,000 research laboratories, pharmaceutical companies, academic institutions, clinical research organizations, government agencies and biotechnology companies around the globe.

According to company materials, “Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure.”

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As noted above, the company has seen strong revenue growth for years past, with reports limited to 2014 and 2015. But these may still indicate an extrapolatable trend. And if we start to get the sense that the company may get current on its reports, a ton of increased legitimacy will creep into the picture and possibly get folks really fired up.

From the company’s prior releases, we can see a narrative developing here.

“Arrayit sells its patented and proprietary microarray platform to scientists and doctors worldwide to accelerate biomedical research, to discover safer and more effective medicines, and to develop rapid and affordable testing methods to improve human health and well-being. Avant recently received Institutional Review Board (IRB) approval from the United States Food and Drug Administration (FDA) to validate ovarian cancer specimens pursuant to 510(k) approval of OvaDx(R), a pre-symptomatic ovarian cancer test that aids the monitoring of women diagnosed with ovarian cancer. OvaDx(R) is exclusively manufactured by Arrayit and will be marketed and sold by Avant upon FDA approval.”

That said, has recently placed the dreaded skull and crossbones logo on this stock, suggesting that there may be some problem. It could be simply that this company has become so late with its filings. But they did recently contract a new auditing firm, so the move to current could be forthcoming. And those in the know may indeed be frontrunning that kind of process.

The chart shows nearly 120% piled on for shareholders of the listing during the trailing month. This is emblematic of the stock. ARYC has a history of dramatic rallies. In addition, the listing has registered increased average transaction volume recently, with the past month seeing just under 170% above its longer-run average levels.

At this time, carrying a capital value in the market of $9.9M, ARYC has virtually no reported cash on the books, which must be weighed relative to about $1.6M in total current liabilities. ARYC is pulling in trailing 12-month revenues of $2.8M, according to its latest reports. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 24.9%. We will update the story again soon as further details emerge. For continuing coverage on shares of $ARYC stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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