NVAXNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
NOVAVAX INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$10.82−0.44 (-3.91%)
Close on Oct 19, 2026
- Market cap
- $1.78B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
71.2%
117M of 165M shares
Institutional holders
267
44 new, 31 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
0 buys · 0 sales
Open-market trades only
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Vanguard Capital Management | 8,305,681 | 5.09% | 13G (passive) | Mar 31, 2026 |
| BlackRock, Inc. | 13,450,411 | 8.40% | 13G (passive) amendment | Dec 31, 2024 |
| State Street Corporation | 11,740,566 | 7.10% | 13G (passive) | Jun 30, 2026 |
| Himanshu H. Shah | 10,656,964 | 6.46% | 13G (passive) | Oct 16, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of NVAX | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Shah Capital Management | 14,165,577 | 8.59% | $133.44M | −679,520 | 25.36% |
| BlackRock, Inc. | 13,946,881 | 8.46% | $131.38M | +1,102,562 | 0.00% |
| State Street Corp | 11,740,550 | 7.12% | $110.60M | +2,770,032 | 0.00% |
| Vanguard Portfolio Management LLC | 7,607,996 | 4.61% | $71.67M | +456,371 | 0.00% |
| Vanguard Capital Management LLC | 7,257,449 | 4.40% | $68.37M | +127,302 | 0.00% |
| Sanofi | 6,880,481 | 4.17% | $64.81M | – | 12.14% |
| D. E. Shaw & Co., Inc. | 5,650,905 | 3.43% | $53.23M | −2,058,953 | 0.03% |
| Geode Capital Management, LLC | 4,207,370 | 2.55% | $39.64M | +308,957 | 0.00% |
| Two Sigma Investments, LP | 4,091,043 | 2.48% | $38.54M | +3,476,244 | 0.03% |
| Coatue Management LLC | 3,836,986 | 2.33% | $36.14M | – | 0.07% |
| Bank Of America Corp /De/ | 3,416,235 | 2.07% | $32.18M | −3,220,978 | 0.00% |
| Goldman Sachs Group Inc | 3,007,756 | 1.82% | $28.33M | +1,598,310 | 0.00% |
| UBS Group AG | 1,869,659 | 1.13% | $17.61M | −2,608,042 | 0.00% |
| Millennium Management LLC | 1,768,163 | 1.07% | $16.66M | −2,084,382 | 0.01% |
| Citadel Advisors LLC | 1,695,313 | 1.03% | $15.97M | +571,567 | 0.00% |
| Allianz Asset Management GmbH | 1,579,200 | 0.96% | $14.88M | −280,654 | 0.01% |
| Northern Trust Corp | 1,448,108 | 0.88% | $13.64M | −61,218 | 0.00% |
| TSP Capital Management Group, LLC | 1,419,365 | 0.86% | $13.37M | New | 3.20% |
| Charles Schwab Investment Management Inc | 1,346,607 | 0.82% | $12.69M | −26,898 | 0.00% |
| Vanguard Fiduciary Trust Co | 1,085,100 | 0.66% | $10.22M | −22,086 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 267 | 117M | 71.2% | 44 / 77 | 87 / 31 | 18M | 18M |
| Q1 2026 | 258 | 117M | 70.7% | 55 / 73 | 73 / 26 | 29M | 13M |
| Q4 2025 | 235 | 117M | 70.7% | 35 / 70 | 77 / 43 | 26M | 12M |
| Q3 2025 | 249 | 103M | 62.6% | 46 / 73 | 75 / 46 | 10M | 9M |
| Q2 2025 | 251 | 102M | 61.6% | 51 / 80 | 52 / 43 | 15M | 12M |
| Q1 2025 | 246 | 99M | 59.8% | 51 / 69 | 66 / 36 | 13M | 17M |
| Q4 2024 | 234 | 103M | 62.3% | 41 / 80 | 54 / 41 | 23M | 14M |
| Q3 2024 | 237 | 94M | 56.9% | 42 / 66 | 64 / 33 | 28M | 6M |
| Q2 2024 | 230 | 84M | 50.7% | 59 / 68 | 57 / 29 | 27M | 24M |
| Q1 2024 | 202 | 81M | 49.0% | 33 / 72 | 43 / 28 | 9M | 13M |
| Q4 2023 | 199 | 85M | 51.7% | 27 / 66 | 52 / 51 | 32M | 8M |
| Q3 2023 | 225 | 62M | 37.5% | 45 / 64 | 56 / 32 | 11M | 16M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of NVAX | Value | % of fund | As of |
|---|---|---|---|---|---|
| State Street(R) SPDR(R) S&P(R) Biotech ETF | 7,529,392 | 4.56% | $70.93M | 0.66% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 5,197,170 | 3.15% | $48.96M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 3,914,013 | 2.37% | $36.87M | 0.04% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 3,766,470 | 2.28% | $35.48M | 0.02% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 2,163,104 | 1.31% | $20.38M | 0.04% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 1,893,260 | 1.15% | $17.83M | 0.02% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 1,668,051 | 1.01% | $12.21M | 0.04% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 1,434,059 | 0.87% | $13.51M | 0.09% | Jun 30, 2026 |
| iShares Biotechnology ETF | 1,110,696 | 0.67% | $10.46M | 0.12% | Jun 30, 2026 |
| PIMCO RAE US Small Fund | 1,015,460 | 0.62% | $9.57M | 0.25% | Jun 30, 2026 |
| Fidelity Extended Market Index Fund | 840,526 | 0.51% | $9.22M | 0.02% | May 31, 2026 |
| Schwab U.S. Small-Cap ETF | 785,989 | 0.48% | $8.62M | 0.04% | May 31, 2026 |
| Vanguard Russell 2000 Index Fund | 769,134 | 0.47% | $8.44M | 0.05% | May 31, 2026 |
| Federated Hermes MDT Small Cap Core Fund | 692,795 | 0.42% | $5.07M | 0.23% | Jul 31, 2026 |
| Fidelity Enhanced Small Cap Core ETF | 533,357 | 0.32% | $5.02M | 0.09% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| John C. Jacobs | President and CEO, Director | 225,680 | 0.14% | Mar 9, 2026 |
| Robert Edward Walker | EVP, R&D | 34,386 | 0.02% | Apr 16, 2026 |
| Elaine O'Hara | EVP, Chief Strategy Officer | 157,071 | 0.10% | Mar 9, 2026 |
| James Patrick Kelly | EVP, CFO and Treasurer | 130,599 | 0.08% | Mar 9, 2026 |
| Mark J. Casey | EVP, Chief Legal Officer | 101,445 | 0.06% | Mar 9, 2026 |
| Ruxandra Draghia-Akli | EVP, Research & Development | 23,563 | 0.01% | Mar 9, 2026 |
| John Trizzino | President and COO | 82,015 | 0.05% | Mar 11, 2025 |
| John W. Shiver | Director | 7,947 | 0.00% | Jun 23, 2026 |
| David M. Mott | Director | 79,770 | 0.05% | Jun 23, 2026 |
| Rachel K. King | Director | 45,170 | 0.03% | Jun 23, 2026 |
| Margaret G. McGlynn | Director | 44,468 | 0.03% | Jun 23, 2026 |
| Gregg H. Alton | Director | 47,685 | 0.03% | Jun 23, 2026 |
| Richard Douglas | Director | 73,220 | 0.04% | Jun 23, 2026 |
| Charles W. Newton | Director | 9,520 | 0.01% | Jun 23, 2026 |
| Richard J. Rodgers | Director | 47,370 | 0.03% | Jun 23, 2026 |
| James F. Young | Director | 53,260 | 0.03% | Jan 2, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Richard Douglas Director | Jun 20, 2026 | Option exercise | +18,880 | – | – | 73,220 |
| Rachel K. King Director | Jun 20, 2026 | Option exercise | +18,880 | – | – | 44,070 |
| Gregg H. Alton Director | Jun 20, 2026 | Option exercise | +18,880 | – | – | 47,685 |
| Richard J. Rodgers Director | Jun 20, 2026 | Option exercise | +18,880 | – | – | 47,370 |
| Margaret G. McGlynn Director | Jun 20, 2026 | Option exercise | +18,880 | – | – | 44,468 |
| David M. Mott Director | Jun 20, 2026 | Option exercise | +18,880 | – | – | 79,770 |
| Charles W. Newton Director | Apr 25, 2026 | Option exercise | +9,520 | – | – | 9,520 |
| John W. Shiver Director | Mar 10, 2026 | Option exercise | +7,947 | – | – | 7,947 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 7, 2026 | Tax withholding | −5,904 | $9.98 | $58.92K | 130,599 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 7, 2026 | Option exercise | +12,223 | – | – | 136,503 |
| Mark J. Casey EVP, Chief Legal Officer | Mar 3, 2026 | Option exercise | +37,500 | – | – | 101,445 |
| Mark J. Casey EVP, Chief Legal Officer | Mar 3, 2026 | Tax withholding | −11,378 | $9.49 | $107.98K | 90,067 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 3, 2026 | Option exercise | +56,334 | – | – | 157,071 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 3, 2026 | Tax withholding | −22,429 | $9.49 | $212.85K | 134,642 |
| Ruxandra Draghia-Akli EVP, Research & Development | Mar 3, 2026 | Tax withholding | −11,313 | $9.49 | $107.36K | 23,563 |
| Ruxandra Draghia-Akli EVP, Research & Development | Mar 3, 2026 | Option exercise | +26,667 | – | – | 34,876 |
| John C. Jacobs President and CEO, Director | Mar 3, 2026 | Tax withholding | −69,288 | $9.49 | $657.54K | 225,680 |
| John C. Jacobs President and CEO, Director | Mar 3, 2026 | Option exercise | +150,167 | – | – | 264,130 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 3, 2026 | Tax withholding | −20,850 | $9.49 | $197.87K | 124,280 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 3, 2026 | Option exercise | +43,167 | – | – | 145,130 |
| John C. Jacobs President and CEO, Director | Mar 1, 2026 | Option exercise | +83,333 | – | – | 264,130 |
| John C. Jacobs President and CEO, Director | Mar 1, 2026 | Tax withholding | −38,450 | $10.14 | $389.88K | 225,680 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 1, 2026 | Option exercise | +58,666 | – | – | 130,299 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 1, 2026 | Tax withholding | −28,366 | $10.14 | $287.63K | 101,963 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2026 | Tax withholding | −10,969 | $10.14 | $111.23K | 100,737 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2026 | Option exercise | +19,600 | – | – | 77,081 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2026 | Tax withholding | −5,375 | $10.14 | $54.50K | 71,706 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2026 | Option exercise | +40,000 | – | – | 111,706 |
| Mark J. Casey EVP, Chief Legal Officer | Mar 1, 2026 | Option exercise | +4,000 | – | – | 65,159 |
| Mark J. Casey EVP, Chief Legal Officer | Mar 1, 2026 | Tax withholding | −1,214 | $10.14 | $12.31K | 63,945 |
| John C. Jacobs President and CEO, Director | Jan 23, 2026 | Option exercise | +83,197 | – | – | 219,929 |
| John C. Jacobs President and CEO, Director | Jan 23, 2026 | Tax withholding | −39,132 | $9.17 | $358.84K | 180,797 |
| Mark J. Casey EVP, Chief Legal Officer | Dec 11, 2025 | Option exercise | +41,899 | – | – | 73,972 |
| Mark J. Casey EVP, Chief Legal Officer | Dec 11, 2025 | Tax withholding | −12,713 | $6.69 | $85.05K | 61,159 |
| Ruxandra Draghia-Akli Section 16 | Nov 11, 2025 | Option exercise | +14,257 | – | – | 14,257 |
| Ruxandra Draghia-Akli Section 16 | Nov 11, 2025 | Tax withholding | −6,048 | $7.40 | $44.76K | 8,209 |
| Richard J. Rodgers Director | Oct 29, 2025 | Option exercise | +3,800 | – | – | 28,490 |
| Gregg H. Alton Director | Jun 12, 2025 | Option exercise | +10,420 | – | – | 28,805 |
| Margaret G. McGlynn Director | Jun 12, 2025 | Option exercise | +10,420 | – | – | 25,588 |
| Richard Douglas Director | Jun 12, 2025 | Option exercise | +10,420 | – | – | 54,340 |
| Richard J. Rodgers Director | Jun 12, 2025 | Option exercise | +10,420 | – | – | 24,690 |
| Rachel K. King Director | Jun 12, 2025 | Option exercise | +10,420 | – | – | 25,190 |
| David M. Mott Director | Jun 12, 2025 | Option exercise | +10,420 | – | – | 60,890 |
| John Trizzino President and COO | Mar 7, 2025 | Option exercise | +28,890 | – | – | 82,015 |
| John Trizzino President and COO | Mar 7, 2025 | Tax withholding | −13,954 | $8.34 | $116.38K | 68,061 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 7, 2025 | Tax withholding | −5,904 | $8.34 | $49.24K | 69,251 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 7, 2025 | Option exercise | +12,223 | – | – | 75,155 |
| John C. Jacobs President and CEO, Director | Mar 1, 2025 | Tax withholding | −38,451 | $8.33 | $320.30K | 136,732 |
| John C. Jacobs President and CEO, Director | Mar 1, 2025 | Option exercise | +83,334 | – | – | 175,183 |
| John Trizzino President and COO | Mar 1, 2025 | Tax withholding | −23,185 | $8.33 | $193.13K | 53,125 |
| John Trizzino President and COO | Mar 1, 2025 | Option exercise | +48,000 | – | – | 76,310 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2025 | Tax withholding | −5,375 | $8.33 | $44.77K | 68,450 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2025 | Tax withholding | −10,969 | $8.33 | $91.37K | 57,481 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2025 | Option exercise | +40,000 | – | – | 73,825 |
| Elaine O'Hara EVP, Chief Strategy Officer | Mar 1, 2025 | Option exercise | +19,600 | – | – | 33,825 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 1, 2025 | Tax withholding | −28,337 | $8.33 | $236.05K | 62,932 |
| James Patrick Kelly EVP, CFO and Treasurer | Mar 1, 2025 | Option exercise | +58,667 | – | – | 91,269 |
| Mark J. Casey EVP, Chief Legal Officer | Mar 1, 2025 | Tax withholding | −1,214 | $8.33 | $10.11K | 31,973 |
| Mark J. Casey EVP, Chief Legal Officer | Mar 1, 2025 | Option exercise | +4,000 | – | – | 33,187 |
| John C. Jacobs President and CEO, Director | Jan 23, 2025 | Tax withholding | −38,873 | $9.55 | $371.24K | 91,849 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Draghia Akli Ruxandra Former Officer | May 27, 2026 | 21,383 | $235.41K | May 27, 2026 | Stock Plan Activity |
| Draghia Akli Ruxandra Former Officer | May 7, 2026 | 30,000 | $296.08K | May 7, 2026 | Stock Plan Activity |
| James F. Young Former Director | May 19, 2025 | 10,000 | $75.88K | May 19, 2025 | Stock Plan Activity |
| James F. Young Former Director | Apr 14, 2025 | 4,000 | $24.41K | Apr 14, 2025 | Stock Plan Activity |
| James F. Young Director | Jan 2, 2025 | 10,000 | $84.80K | Dec 24, 2024 | Stock Plan Activity |
| James F. Young Director | Dec 26, 2024 | 10,000 | $84.80K | Dec 24, 2024 | Stock Plan Activity |
| K. King Rachel Board Member | Dec 13, 2024 | 4,150 | $37.35K | Dec 13, 2024 | Market purchase |
| Filip Dubovsky Officer | Sep 18, 2024 | 7,335 | $95.33K | Sep 18, 2024 | Stock Plan Activity |
| James F. Young Director | Jun 18, 2024 | 15,000 | $205.65K | Jun 18, 2024 | Stock Plan Activity |
| Filip Dubovsky Officer | Jun 17, 2024 | 13,904 | $201.19K | Jun 17, 2024 | Stock Plan Activity |
| Filip Dubovsky Officer | May 14, 2024 | 47,312 | $657.39K | May 14, 2024 | Stock Plan Activity |