Bavarian Nordic Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

WBAG:BAVA Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
06 Sep 24	Sell€3,230,379	Paul Chaplin	Individual		98,855	€32.68
22 Aug 24	Sell€7,399	Karen Merete Jensen	Individual		200	€37.00

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of BAVA?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	137,190	0.175%
Institutions	19,447,542	24.8%
General Public	58,960,028	75.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 27.4% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
10%	Arbejdsmarkedets Tillægspension (Atp)	7,887,947	€210.4m	0%	14.68%
3.4%	The Vanguard Group, Inc.	2,668,297	€71.2m	-0.02%	no data
2.45%	Dimensional Fund Advisors LP	1,928,032	€51.4m	0.39%	0.01%
1.98%	Norges Bank Investment Management	1,551,765	€41.4m	0%	no data
1.9%	BlackRock, Inc.	1,490,516	€39.8m	1.99%	no data
1.1%	Bi Asset Management FondsmÆGlerselskab A/S	862,363	€23.0m	19.3%	0.23%
0.94%	Handelsbanken Asset Management	738,887	€19.7m	11.6%	0.03%
0.84%	ODDO BHF Asset Management SAS	656,063	€17.5m	9.59%	0.25%
0.61%	Victory Capital Management Inc.	479,963	€12.8m	-0.78%	0.01%
0.59%	ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg	463,660	€12.4m	0.38%	0.1%
0.45%	Nykredit Asset Management A/S	352,771	€9.4m	-19.2%	0.15%
0.32%	Fundamental Fondsmaeglerselskab A/S	252,424	€6.7m	8.6%	11.14%
0.32%	Nordea Investment Management, AB	252,245	€6.7m	-7.11%	no data
0.28%	KBC Asset Management NV	221,702	€5.9m	0%	0.01%
0.28%	Deutsche Asset & Wealth Management	216,608	€5.8m	0%	no data
0.27%	Geode Capital Management, LLC	208,335	€5.6m	276%	no data
0.23%	Investering & Tryghed A/S	184,000	€4.9m	0%	1.14%
0.23%	Goldman Sachs Asset Management, L.P.	181,417	€4.8m	2,690%	no data
0.18%	J. Lamarck SIM S.p.A.	141,100	€3.8m	0%	4.1%
0.17%	Sparinvest SA (Luxembourg)	134,200	€3.6m	0%	1.18%
0.17%	Principal Global Investors, LLC	133,720	€3.6m	-1.7%	no data
0.17%	Charles Schwab Investment Management, Inc.	132,906	€3.5m	2.06%	no data
0.17%	Danske Bank A/S, Asset Management Arm	132,559	€3.5m	0%	0.01%
0.17%	Gudme Raaschou Asset Management	130,000	€3.5m	0%	0.94%
0.15%	Danske Capital Denmark	120,418	€3.2m	0%	0.01%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/18 11:49
End of Day Share Price	2024/12/18 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bavarian Nordic A/S is covered by 15 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Peter Ankersen	ABG Sundal Collier
Jacob Lademann	Carnegie Investment Bank AB
Peter Verdult	Citigroup Inc