content: <?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
    <headerData>
      <submissionType>144</submissionType>
      <filerInfo>
        <filer>
          <filerCredentials>
            <cik>0001947083</cik>
            <ccc>XXXXXXXX</ccc>
          </filerCredentials>
        </filer>
        <liveTestFlag>LIVE</liveTestFlag>
  
  
  
      </filerInfo>
    </headerData>
    <formData>
      <issuerInfo>
        <issuerCik>0001531978</issuerCik>
        <issuerName>Paragon 28, Inc.</issuerName>
        <secFileNumber>001-40902</secFileNumber>
        <issuerAddress>
          <com:street1>14445 GRASSLANDS DRIVE</com:street1>
          <com:city>ENGLEWOOD</com:city>
          <com:stateOrCountry>CO</com:stateOrCountry>
          <com:zipCode>80112</com:zipCode>
        </issuerAddress>
        <issuerContactPhone>720-912-1332</issuerContactPhone>
        <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>MVM Partners, LLC</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
        <relationshipsToIssuer>
          <relationshipToIssuer>10% Stockholder</relationshipToIssuer>
        </relationshipsToIssuer>
      </issuerInfo>
      <securitiesInformation>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <brokerOrMarketmakerDetails>
          <name>Merrill Lynch, Pierce,Fenner &amp; Smith Inc.</name>
          <address>
            <com:street1>555 California St</com:street1>
            <com:street2>FL 18</com:street2>
            <com:city>San Francisco</com:city>
            <com:stateOrCountry>CA</com:stateOrCountry>
            <com:zipCode>94104</com:zipCode>
          </address>
        </brokerOrMarketmakerDetails>
        <noOfUnitsSold>300000</noOfUnitsSold>
        <aggregateMarketValue>3150000.00</aggregateMarketValue>
        <noOfUnitsOutstanding>83720346</noOfUnitsOutstanding>
        <approxSaleDate>11/20/2024</approxSaleDate>
        <securitiesExchangeName>NYSE</securitiesExchangeName>
      </securitiesInformation>
      <securitiesToBeSold>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <acquiredDate>12/11/2020</acquiredDate>
        <natureOfAcquisitionTransaction>Private Placement</natureOfAcquisitionTransaction>
        <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
        <isGiftTransaction>N</isGiftTransaction>
        <amountOfSecuritiesAcquired>276678</amountOfSecuritiesAcquired>
        <paymentDate>12/11/2020</paymentDate>
        <natureOfPayment>Cash</natureOfPayment>
      </securitiesToBeSold>
      <securitiesToBeSold>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <acquiredDate>12/17/2020</acquiredDate>
        <natureOfAcquisitionTransaction>Private Placement</natureOfAcquisitionTransaction>
        <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
        <isGiftTransaction>N</isGiftTransaction>
        <amountOfSecuritiesAcquired>23322</amountOfSecuritiesAcquired>
        <paymentDate>12/17/2020</paymentDate>
        <natureOfPayment>Cash</natureOfPayment>
      </securitiesToBeSold>
      <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
      <remarks>The number of shares proposed to be sold consists of 276,678 shares held by MVM V LP and 23,322 shares held by MVM GP (No. 5) LP.</remarks>
      <noticeSignature>
        <noticeDate>11/20/2024</noticeDate>
        <signature>Eric Bednarski</signature>
      </noticeSignature>
    </formData>
  </edgarSubmission>
metadata_documents: [{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 3454}]
text: 144
  0001947083
  XXXXXXXX
  LIVE
  0001531978
  Paragon 28, Inc.
  001-40902
  14445 GRASSLANDS DRIVE
  ENGLEWOOD
  CO
  80112
  720-912-1332
  MVM Partners, LLC
  10% Stockholder
  Common
  Merrill Lynch, Pierce,Fenner & Smith Inc.
  555 California St
  FL 18
  San Francisco
  CA
  94104
  300000
  3150000.00
  83720346
  11/20/2024
  NYSE
  Common
  12/11/2020
  Private Placement
  Issuer
  N
  276678
  12/11/2020
  Cash
  Common
  12/17/2020
  Private Placement
  Issuer
  N
  23322
  12/17/2020
  Cash
  Y
  The number of shares proposed to be sold consists of 276,678 shares held by MVM V LP and 23,322 shares held by MVM GP (No. 5) LP.
  11/20/2024
  Eric Bednarski