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Celcuity

CELC on Nasdaq. Medical laboratories. Market value $3.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

Nothing stands out yet.

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-5.3%low

For every $100 of what the whole company costs, it produced $-5.33 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-45.1%five-year median

Each dollar kept in the business earns -45 cents a year. Above 10 is good.

Quality score: 36 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$73.62 a share, 63% above its 1-year low

Over the past year the price has ranged from $45.03 to $151.02.

Pays no dividend

Prices from Monday’s close (5 October).

Five years of cash, in billions

-0.0
-0.0
-0.1
-0.1
-0.2
-0.2
2021202220232024202512 monthsto Jun '26
Revenue
n/an/an/an/an/a
Operating margin
n/an/an/an/an/a
Debt to equity
0.230.270.270.911.37
Shares outstanding
0.02bn0.02bn0.04bn0.05bn0.05bn

Health checks

  • Free cash flow positive0 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)Not enough data
  • Profit backed by cash (accruals)Yes
  • Debt1.37× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesNo, 217% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • A loss of $79 million, compared with a loss of $45 million a year ago.
  • Over the past 12 months it spent $192 million more cash than it brought in, compared with $121 million a year earlier.
  • 26% more shares than a year ago. Each share owns a bit less of the company.
  • It has $182 million more cash than debt. A year ago debt was $59 million more than cash.
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$30m
December 2024-$37m
March 2025-$37m
June 2025-$45m
September 2025-$44m
December 2025-$51m
March 2026-$53m
June 2026-$79m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 March 2026
Next quarterly (estimated, 10-Q)
12 November 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 274 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

13 investors own more than 5%.

  • Baker Bros. Advisors (GP) LLC
    Passive investor
    at least 10.0%−10.0 pts
    (filed with 2 related holders)
    Since 14 July 2026
    What they said

    Item 4 of this Amendment No. 2 is supplemented and amended, as the case may be, as follows: The disclosures in Item 5 below are incorporated herein by reference. This Amendment No. 2 is being filed to report the sale of shares of the common stock ("Common Stock") of Celcuity…

    Read the filing
  • Baker Bros. Advisors LP
    Passive investor
    at least 10.0%0.0 pts
    (filed with 3 related holders)
    Since 14 July 2026
  • Soleus Capital Master Fund, L.P.
    Passive investor
    at least 9.9%
    (filed with 1 related holder)
    Since 31 December 2024
  • Brian F. Sullivan
    Passive investor
    9.1%
    Since 30 September 2025
  • Perceptive Advisors LLC
    Passive investor
    at least 6.8%+0.3 pts
    (filed with 2 related holders)
    Since 31 December 2025
  • at least 6.7%
    (filed with 1 related holder)
    Since 31 December 2025
  • 6.5%
    Since 30 June 2026
  • RTW Investments, LP
    Passive investor
    at least 6.3%
    (filed with 1 related holder)
    Since 31 March 2026
  • BlackRock, Inc.
    Passive investor
    5.9%
    Since 31 December 2024
  • Growth Equity Opportunities 18 VGE, LLC
    Passive investor
    at least 4.9%−1.4 pts
    (filed with 11 related holders)
    Since 5 March 2026
    What they said

    The information provided and incorporated by reference in Item 5(c) is hereby incorporated by reference. Depending on market conditions and other factors, GEO and other Reporting Persons may dispose of additional shares of the Issuer.

    Read the filing
  • Soleus Capital Management, L.P.
    Passive investor
    at least 3.9%−6.0 pts
    (filed with 8 related holders)
    Since 31 December 2025
  • COMMODORE CAPITAL LP
    Passive investor
    at least 2.9%
    (filed with 1 related holder)
    Since 31 December 2024
  • BVF PARTNERS L P/IL
    Passive investor
    at least 1.6%
    (filed with 9 related holders)
    Since 30 September 2025
  • Lance G. Laing
    Passive investor
    Sold down below 5%
    Since 30 September 2025
  • Liza Landsman
    Passive investor
    Sold down below 5%
    Since 14 August 2025
    What they said

    Schedule A attached hereto as Exhibit 2 describes all transactions in the Issuer's Common Stock that were effected during the past 60 days by the Reporting Persons. Depending on market conditions and other factors, GEO and the other Reporting Persons may dispose of additional…

    Read the filing

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 2 sold $10m, $9m of it under preset trading plans.

  • Buller Richard E
    Director
    Sold
    under a preset trading plan
    Date
    4 May 2026
    Shares
    9,000
    Price
    $140.47
    Value
    $1m
  • Dalvey David
    Director
    Sold
    under a preset trading plan
    Date
    4 May 2026
    Shares
    25,000
    Price
    $140.68
    Value
    $4m
  • Buller Richard E
    Director
    Sold
    under a preset trading plan
    Date
    31 March 2026
    Shares
    3,000
    Price
    $110.27
    Value
    $330,816
  • Dalvey David
    Director
    Sold
    under a preset trading plan
    Date
    27 January 2026
    Shares
    20,000
    Price
    $120.03
    Value
    $2m
  • Buller Richard E
    Director
    Sold
    Date
    5 December 2025
    Shares
    3,000
    Price
    $105.69
    Value
    $317,077
  • Buller Richard E
    Director
    Sold
    Date
    1 December 2025
    Shares
    1,100
    Price
    $98.13
    Value
    $107,943
  • Dalvey David
    Director
    Sold
    under a preset trading plan
    Date
    21 November 2025
    Shares
    15,000
    Price
    $100.00
    Value
    $2m
  • Buller Richard E
    Director
    Sold
    Date
    20 November 2025
    Shares
    3,900
    Price
    $96.73
    Value
    $377,247

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 10 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.