The 23-year-old Wright, drafted by the Titans in the first round of the 2012 draft, is expected to miss the rest of the preseason, a source told ESPN NFL Insider Adam Schefter.
He will definitely miss Tennessee's third preseason game against the Falcons on Saturday. Coach Mike Munchak said Sunday he hopes the receiver will be back for the season opener Sept. 8 at Pittsburgh.
He injured his knee while running a pattern in the first half of Tennessee's 27-19 loss to the Cincinnati Bengals. He walked around after the game with a wrap on the knee.
Wright, who finished Saturday night's game with four catches for 44 yards, finished last season with 64 receptions for 626 yards and four touchdowns.
Information from ESPN NFL Insider Adam Schefter and The Associated Press was used in this report.