Stonepine Capital Management LLC Invests $766,000 in Paragon 28, Inc. (NYSE:FNA)

Stonepine Capital Management LLC bought a new position in shares of Paragon 28, Inc. (NYSE:FNA) during the third quarter, Holdings Channel.com reports. The fund bought 114,724 shares of the company’s stock, valued at approximately $766,000. Paragon 28 comprises 0.5% of Stonepine Capital Management LLC’s portfolio, making the stock its 29th biggest holding.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Paragon 28 by 46,660.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after buying an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Paragon 28 in the 2nd quarter worth about $68,000. Intech Investment Management LLC acquired a new stake in shares of Paragon 28 during the 3rd quarter worth about $70,000. Ballentine Partners LLC acquired a new position in Paragon 28 in the third quarter valued at about $91,000. Finally, Creative Planning bought a new stake in Paragon 28 during the third quarter worth about $91,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Paragon 28 Trading Down 0.3 %

FNA traded down $0.03 during midday trading on Wednesday, reaching $9.95. 34,300 shares of the company were exchanged, compared to its average volume of 612,566. The stock’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $7.24. Paragon 28, Inc. has a one year low of $4.65 and a one year high of $14.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share. As a group, equities analysts forecast that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Insider Activity at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the transaction, the insider now directly owns 10,738,564 shares of the company’s stock, valued at approximately $110,392,437.92. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 230,549 shares of company stock worth $2,359,329. Insiders own 15.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FNA shares. Needham & Company LLC boosted their price objective on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and set a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Finally, Canaccord Genuity Group reduced their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.60.

Paragon 28 Profile

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.