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Celularity

CELU on Nasdaq. Market value $55m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 39 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

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

Big holders and activists

4 investors own more than 5%.

  • Lim Kok Thay
    Insider or founder
    at least 41.0%+14.2 pts
    (filed with 3 related holders)
    Since 24 July 2025
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: Pursuant to the terms agreed upon in the binding term sheet ("Term Sheet") between the Issuer and RWI dated February 12, 2025, RWI agreed to, among other things, an extension of that certain second…

    Read the filing
  • Genting Berhad
    at least 36.4%0.0 pts
    (filed with 2 related holders)
    Since 24 January 2025
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The response to Item 3 of this Amendment No. 5 is incorporated by reference herein.

    Read the filing
  • PHILIP & DANIELE BARACH FAMILY TRUST
    at least 29.0%+13.2 pts
    (filed with 2 related holders)
    Since 23 September 2026
    What they said

    In connection with the Financing, on September 23, 2026, the Trust and the Company entered into a Board Rights Agreement, pursuant to which the size of the Company's board of directors is to be fixed at five directors, with the Trust having the right to designate two persons to…

    Read the filing
  • PHILIP A. BARACH
    at least 20.1%+10.5 pts
    (filed with 1 related holder)
    Since 20 April 2026
  • BRISTOL MYERS SQUIBB CO
    Passive investor
    Sold down below 5%
    Since 31 December 2024
  • Lincoln Alternative Strategies LLC
    Passive investor
    Sold down below 5%
    Since 14 July 2025

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

What insiders did

No insider bought or sold on the open market in the last 12 months.

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.

2 serious warning signs in Celularity’s filings.

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 30 Apr 2026, plus the 10-Q filed 29 Sep 2026 and 10 later 8-Ks.

  • Doubt it can keep going

    Serious

    The company or its auditor warned it may not have enough money to last the next year.

    “Management has evaluated the Company’s current financial position, liquidity, capital resources, and projected cash flows and has determined that there is substantial doubt about the Company’s ability to continue as a going concern.”
    Show the full paragraph
    In accordance with ASC 205-40, Presentation of Financial Statements — Going Concern, management evaluates whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these condensed consolidated financial statements are issued. Management has evaluated the Company’s current financial position, liquidity, capital resources, and projected cash flows and has determined that there is substantial doubt about the Company’s ability to continue as a going concern.

    From the 10-Q filed 29 September 2026, Part I, Item 1. Financial Statements. Read it in the filing

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “Management, with the participation of our Principal Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of March 31, 2026 and concluded, consistent with prior reporting periods, that these controls and procedures were not effective due to material weaknesses in internal control over financial reporting for complicated financial transactions causing the Company file quarterly and annual reports late.”

    From the 10-Q filed 29 September 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

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.

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

A big holder just moved. The deep dive shows what the business is worth.

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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.