Texas Capital Bancshares Inc
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Financials : Banks | Small Cap Growth
Company profile

Texas Capital Bancshares, Inc. is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit. It also provides banking services for its individual customers, including personal wealth management and trust services; certificates of deposit; interest-bearing and non-interest-bearing checking accounts; traditional money market and savings accounts; loans, both secured and unsecured, and Internet banking.

Postmarket

Last Trade
Delayed
$38.75
0.23 (0.60%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$38.52
Day's Change
1.21 (3.24%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
38.84
Day's Low
37.15
Volume
(Heavy Day)
Volume:
464,851

10-day average volume:
341,646
464,851

Stifel cuts COVID-19 vaccine developer Inovio's price target as earnings and call leave more questions than answers

7:35 am ET August 11, 2020 (MarketWatch)
Print

Stifel analysts cut their stock price target for Inovio Pharmaceuticals Inc. (INO) to $16 from $24 on Tuesday, after the company posted a wider-than-expected second-quarter loss and revenue that fell short of estimates. Inovio is one of many companies working to develop a COVID-19 vaccine candidate. The numbers and the call "left us (again) with more questions than answers on numerous fronts," analysts led by Stephen Willey wrote in a note to clients. These include disclosure timelines for the trial of the company's COVID-19 vaccine candidate, INO-4800. The company said it expanded a 40-patient early-stage clinical trial by another 80 participants and that most patients were showing an immunological response to the vaccine, either by achieving binding antibodies, neutralizing antibodies or T cell responses. "Our hesitancy to attribute any INO-4800-related value in our model persists and our previously reduced discount rate (9%) reflected improved perception re: the likelihood of procuring third party funding," said the note. "We believe these lingering questions, coupled with an acceleration of the competitive development landscape (and difficult-to-beat immunogenicity hurdles), forces us to revisit that assumption (+250bps)." The company reported a second-quarter loss of $128.7 million, or 83 cents a share, compared with a loss of $29.4 million, or 30 cents a share, in the year-ago period. Revenue rose to about $267,000 from about $136,000 in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 17 cents a share on revenue of $2.6 million. Shares were down 8% in premarket trade Tuesday, but have gained 475% in the year to date, while the S&P 500 has gained 4%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 11, 2020 07:35 ET (11:35 GMT)

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