ESPN's Adam Schefter reported the Giants think it's a similar injury to the one Shepard had this summer, with more tests to come, and he "could" miss two weeks.
News of the latest injury is yet another blow for Shepard, who was diagnosed with a low ankle sprain in early August following a scary scene at training camp.
Fortunately for the second-year wideout, that injury wasn't accompanied by a long stint on the shelf.
The Giants will have to hope for the same this time around, considering Shepard has evolved into an integral piece of their scheme when healthy.
A year after posting 65 catches for 683 yards and eight touchdowns, the Oklahoma Sooners product has rattled off 21 receptions for 254 yards and one score as the Giants' primary slot receiver alongside Odell Beckham Jr. and Brandon Marshall, who were both also injured Sunday.
The Giants don't have another explosive slot option like Shepard on the roster, so they'll likely have to pivot to others, including versatile rookie tight end Evan Engram, to pick up the slack with Shepard down once again.