Cabaletta Bio (CABA) unusual large trade opens 3500 May $12.50 calls for $4, a $325M Biotech focused on T-cell therapies. MSCO out yesterday at Overweight with a $20 target noting its CAAR-T program has broad potential in autoimmune diseases and sees a favorable risk/reward balance ahead of updated Phase I DSG3-CART data due in Q4.