The Stoplight Loosejaw is one of the samples you'll need to collect for the Researcher in Dredge, but it's not immediately obvious where to look. The Researcher gives you "pursuits", or quests, that task you with collecting samples of different marine life, though you won't have many clues about where to find them...
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Where to find the Stoplight Loosejaw in Dredge
Source: PC Gamer (opens in a new tab)