Bavarian Nordic Ownership

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

Recent Insider Transactions

CPSE:BAVA Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
12 Mar 26	BuyDKK 1,890,551	Paul Chaplin	Individual		10,642	DKK 177.65

Insider Trading Volume

Insider Buying: BAVA 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	134,983	0.177%
Institutions	25,081,490	32.9%
General Public	50,949,514	66.9%

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

Top Shareholders

Top 25 shareholders own 33.14% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
10.5%	Arbejdsmarkedets Tillægspension (Atp)	7,988,745	DKK 1.6b	-10.8%	1.24%
5.07%	Morgan Stanley	3,865,050	DKK 782.5m	0%	0.01%
4.24%	The Vanguard Group, Inc.	3,228,253	DKK 653.6m	0.47%	no data
2.64%	Dimensional Fund Advisors LP	2,011,339	DKK 407.2m	7.65%	0.01%
2.44%	Norges Bank Investment Management	1,859,565	DKK 376.5m	13.2%	no data
2.13%	BlackRock, Inc.	1,619,630	DKK 327.9m	6.18%	no data
1.18%	Bi Asset Management FondsmÆGlerselskab A/S	899,639	DKK 182.1m	0%	0.18%
0.52%	ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg	397,021	DKK 80.4m	0%	0.08%
0.47%	Nykredit Asset Management A/S	354,475	DKK 71.8m	0%	0.14%
0.38%	Assenagon Asset Management S.A.	289,955	DKK 58.7m	0%	0.01%
0.37%	Bessemer Investment Management LLC	284,485	DKK 57.6m	0%	0.01%
0.37%	Goldman Sachs Asset Management, L.P.	280,242	DKK 56.7m	400,000%	no data
0.36%	Nordea Investment Management, AB	273,840	DKK 55.4m	0%	no data
0.33%	Deutsche Asset & Wealth Management	254,452	DKK 51.5m	0%	no data
0.29%	Sparinvest SA (Luxembourg)	219,997	DKK 44.5m	0%	0.21%
0.23%	Charles Schwab Investment Management, Inc.	172,332	DKK 34.9m	3.83%	no data
0.22%	KBC Asset Management NV	167,540	DKK 33.9m	0%	0.01%
0.22%	State Street Global Advisors, Inc.	165,498	DKK 33.5m	7.27%	no data
0.21%	Acadian Asset Management LLC	162,182	DKK 32.8m	66.5%	0.01%
0.18%	Paul Chaplin	133,452	DKK 27.0m	8.67%	no data
0.17%	Nykredit Bank A/S	128,010	DKK 25.9m	0%	2.39%
0.16%	J. Lamarck SIM S.p.A.	124,000	DKK 25.1m	0%	3.8%
0.16%	Amundi Asset Management SAS	120,547	DKK 24.4m	0%	no data
0.16%	MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH	120,442	DKK 24.4m	0%	0.05%
0.16%	Schroder Investment Management Limited	120,000	DKK 24.3m	0%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/04/19 06:08
End of Day Share Price	2026/04/17 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

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.

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 Github.

Analyst Sources

Bavarian Nordic A/S is covered by 12 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
Jacob Lademann	Carnegie Investment Bank AB
Peter Verdult	Citigroup Inc
Hakon Hemme Jørgensen	Danske Bank