Devil Fish (1984)

Gruesome findings in the middle of the ocean and mysterious occurrences off the Florida Coast terrify the locals, forcing Sheriff Gordon and marine biologists, Dr Stella Dickens and Dr Bob Hogan, to investigate. More and more, as the news spreads like wildfire, the two scientists find evidence of a terrible underwater monstrosity that is devouring unsuspecting fishermen and swimmers alike, and that somehow, the West Ocean Institute has something to do with the rogue beast that roams the seabed. But, what kind of aquatic, man-eating terror stains the waters red?