# Revolution Medicines, Inc. (RVMD)

> Source: Nexqual · https://nexqual.com/RVMD · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Revolution Medicines, Inc. (RVMD), nexqual.com/RVMD" · informational, not investment advice.

**Price:** USD 187.69 (-3.39% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 194.28 · day 185.34–194.59 · 52w 52.48–224.31 · market cap $40.2B · NMS

## Key facts
- Insider open-market sales, last ~7 months: 30 Form 4 filings, $121M; 1 not under a Rule 10b5-1 plan ($720K); 0 by opportunistic insiders, 17 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.84 on a 1–5 scale) (25 analysts), mean target USD 258.84 (range 179–320).
- Total return with dividends: 1Y +251.2% vs S&P 500 +14.9%; 5Y +587.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -2.39, revenue estimate $27.7M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $29.4M | $35.4M | $11.6M | $0K | $0K | — |
| Operating income | -$188M | -$258M | -$487M | -$690M | -$1.18B | -$1.63B |
| Net income | -$187M | -$249M | -$436M | -$600M | -$1.13B | -$1.77B |
| EPS (diluted) | -$2.57 | -$3.08 | -$3.86 | -$3.58 | -$5.95 | — |
| Free cash flow | -$154M | -$235M | -$358M | -$568M | -$914M | -$1.23B |
| Operating margin | -639.7% | -730.0% | -4207.1% | — | — | — |
| Net margin | -636.6% | -703.0% | -3768.3% | — | — | — |
| Revenue growth | -31.6% | +20.4% | -67.3% | -100.0% | — | — |
| Cash + short-term investments | $577M | $645M | $1.85B | $2.29B | $2.03B | — |
| Total debt | — | — | — | — | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 15.4x · FCF yield -3.06% · Earnings yield -4.40% · Net cash $3.45B · EV $36.8B

## Insider sales (SEC Form 4, open-market, last ~7 months)
29 of 30 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-29 | Sandler Alan B. | Chief Development Officer | 6,309 | $1.3M | 10.7% | Yes (adopted June 30, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-25 | Cislini Jeff | SVP & General Counsel | 765 | $159K | 1.5% | Yes (adopted May 22, 2026) | Routine (sold in Jun & Sep & Nov & Dec each year 2023–2025) |
| 2026-09-24…2026-09-25 | Mancini Anthony | See Remarks | 3,708 | $743K | 8.5% | Yes (adopted June 11, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-22 | Anderson Elizabeth M | Director | 10,143 | $2.0M | 24.5% | Yes (adopted June 23, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-18 | Mancini Anthony | See Remarks | 1,764 | $347K | 4.2% | Yes (adopted June 11, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-16 | Sandler Alan B. | Chief Development Officer | 341 | $68K | 0.6% | Yes (adopted June 13, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-16 | Mancini Anthony | See Remarks | 1,774 | $353K | 4% | Yes (adopted June 15, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-16 | Kelsey Stephen Michael | See Remarks | 5,569 | $1.1M | 1.9% | Yes (adopted May 31, 2023) | Routine (sold in Mar & Jun & Sep & Oct & Dec each year 2023–2025) |
| 2026-09-16 | Horn Margaret A | Chief Operating Officer | 4,967 | $990K | 3.2% | Yes (adopted May 31, 2023) | Routine (sold in Mar & Jun & Sep & Dec each year 2023–2025) |
| 2026-09-16 | Goldsmith Mark A | See Remarks | 13,988 | $2.8M | 1.6% | Yes (adopted May 31, 2023) | Routine (sold in Sep & Dec each year 2023–2025) |
| 2026-09-16 | Cislini Jeff | SVP & General Counsel | 3,366 | $671K | 6% | Yes (adopted May 31, 2023) | Routine (sold in Jun & Sep & Nov & Dec each year 2023–2025) |
| 2026-09-16 | Anders Jack | Chief Financial Officer | 4,053 | $808K | 3.3% | Yes (adopted May 31, 2023) | Routine (sold in Mar & Jun & Sep & Dec each year 2023–2025) |
| 2026-09-11 | Kelsey Stephen Michael | See Remarks | 92,531 | $18.7M | 24.1% | Yes (adopted June 12, 2026) | Routine (sold in Mar & Jun & Sep & Oct & Dec each year 2023–2025) |
| 2026-09-10 | Mancini Anthony | See Remarks | 15,448 | $3.2M | 26% | Yes (adopted June 11, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-08 | Kim Lorence H. | Director | 17,090 | $3.6M | 93.5% | Yes (adopted June 1, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-31 | Kim Lorence H. | Director | 56,000 | $11.4M | 75.4% | Yes (adopted June 1, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-21 | Cislini Jeff | General Counsel | 56,894 | $11.9M | 50.4% | Yes (adopted May 22, 2026) | Routine (sold in Jun & Sep & Nov & Dec each year 2023–2025; this trade is outside those months) |
| 2026-08-21 | Goldsmith Mark A | See Remarks | 86,000 | $18.0M | 20.7% | Yes | Routine (sold in Sep & Dec each year 2023–2025; this trade is outside those months) |
| 2026-06-29 | Patel Sushil | Director | 5,580 | $1.0M | 20.5% | Yes (adopted March 30, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-24 | Anders Jack | Chief Financial Officer | 20,000 | $3.4M | 14% | Yes (adopted March 24, 2026) | Routine (sold in Mar & Jun & Sep & Dec each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.84 on a 1–5 scale), 25 analysts; mean target USD 258.84 (low 179, high 320).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | TD Cowen | Reiterated | Buy | $250 |
| 2026-10-19 | Truist Securities | Target raised | Buy | $240 → $241 |
| 2026-10-16 | William Blair | Initiated | Outperform |  |
| 2026-10-15 | Needham | Reiterated | Buy | $275 |
| 2026-10-14 | RBC Capital | Target raised | Outperform | $259 → $260 |
| 2026-10-08 | RBC Capital | Target raised | Outperform | $251 → $259 |
| 2026-10-07 | Truist Securities | Target raised | Buy | $239 → $240 |
| 2026-09-28 | Brookline Capital | Initiated | Buy | $318 |
| 2026-09-21 | B of A Securities | Target raised | Buy | $225 → $265 |
| 2026-09-10 | Morgan Stanley | Initiated | Overweight | $255 |
| 2026-09-09 | Stifel | Target raised | Buy | $215 → $230 |
| 2026-08-31 | Needham | Target raised | Buy | $240 → $275 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +251.2% | +587.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +252.7% | +46.9% |
| Volatility (annualized) | 61.9% | 60.4% |
| Max drawdown | -24.9% (Jan 2026→Mar 2026) | -53.5% (Nov 2021→May 2022) |

## Peers (Biotechnology)
ONC (BeOne Medicines Ltd.) USD 382.27 -1.08% · RPRX (Royalty Pharma plc) USD 63.75 +2.57% · ALNY (Alnylam Pharmaceuticals, Inc.) USD 227.28 +0.97% · ARGX (argenx SE) USD 875.76 -1.61% · ROIV (Roivant Sciences Ltd.) USD 37.45 +1.77% · GMAB (Genmab A/S) USD 40 +1.09%

## More
Full page: https://nexqual.com/RVMD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RVMD's own 10-K filed 2026-02-25 (https://www.sec.gov/Archives/edgar/data/1628171/000119312526071563/rvmd-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Aethon Therapeutics | "In March 2024, we entered into a collaboration agreement with Aethon Therapeutics, Inc. (Aethon) pursuant to which Aethon is conducting research related to use of novel bispecific antibodies to mount an immune attack dir…" |
| Partner | AMGEN INC (AMGN) | "In February 2025, we entered into a clinical collaboration with Amgen Inc. (Amgen) pursuant to which Amgen is evaluating its compound AMG 193, an MTA-cooperative PRMT5 inhibitor, in combination with daraxonrasib in patie…" |
| Partner | Summit Therapeutics Inc. (SMMT) | "In June 2025, we entered into a clinical collaboration with Summit Therapeutics, Inc. (Summit) pursuant to which we are evaluating the safety and efficacy, in multiple solid tumor settings, of our clinical-stage RAS(ON) …" |
| Partner | Tango Therapeutics, Inc. (TNGX) | "In November 2024, we entered into a clinical collaboration with Tango Therapeutics, Inc. (Tango) pursuant to which Tango is evaluating its compound vopimetostat (TNG462), an MTA-cooperative PRMT5 inhibitor, in combinatio…" |
| Partner | EQRx | "To date, we have primarily financed our operations through the sale or issuance of preferred stock and common stock and upfront payments and research and development cost reimbursement received in connection with our pri…" |
| Partner | Cowen and Company | "In November 2021, we entered into a sales agreement with TD Securities (USA) LLC (f/k/a Cowen and Company LLC) (TD Cowen), as amended in March 2024, to sell shares of our common stock, from time to time, with aggregate g…" |

Other companies that name RVMD in their own reports (relationship from RVMD's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Silexion Therapeutics Corp (SLXN) | 10-K 2026-03-17 | "For example, there are an increasing number of companies commercializing treatments and/or developing programs specifically targeting KRAS mutations, including KRAS G12D and KRAS G12V, in a variety of…" |
| customer | Tango Therapeutics, Inc. (TNGX) | 10-K 2026-03-05 | "We have entered into separate clinical collaboration and supply agreements with RevMed, Lilly, and Erasca, under which we plan to conduct combination clinical trials with RevMed's RAS(ON) multi- and G…" |

## Company outlook (8-K filed 2026-08-05)

- "Revolution Medicines is updating its full year 2026 GAAP operating expense guidance to a range of $2.1 to $2.2 billion, which includes estimated non-cash stock-based compensation expense of between $270 and $290 million."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-2.39 | $-1.99 | +20.0% | $27.7M | 21 |
| Next quarter (ends 2026-12-31) | $-1.98 | $-1.73 | +14.5% | $167.4M | 21 |
| Current fiscal year (ends 2026-12-31) | $-9.58 | $-8.07 | +18.8% | $200.8M | 24 |
| Next fiscal year (ends 2027-12-31) | $-5.78 | $-5.80 | -0.3% | $1.31B | 24 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±14.1%; last 8 reports averaged ±5.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 62.5% | ±14.1% |
| 2026-12-18 | 56 | 58.1% | ±18.3% |
| 2027-01-15 | 84 | 52.9% | ±20.3% |
| 2027-03-19 | 147 | 53.6% | ±26.9% |
| 2027-05-21 | 210 | 54.3% | ±32.5% |
| 2027-06-17 | 237 | 53.1% | ±33.7% |
| 2027-08-20 | 301 | 53.7% | ±38.2% |
| 2027-11-19 | 392 | 53.9% | ±43.5% |