The Eagles have not decided yet whether Wallace will be placed on injured reserve, Pederson said. Wallace suffered the injury in the first half of a 27-21 loss to Tampa Bay on Sunday.
The injury makes the Eagles suddenly thin at wide receiver. Mack Hollins was placed on injured reserve before Week 1 with a groin injury, and Philadelphia is still waiting for Alshon Jeffery to return from shoulder surgery.
Pederson said Monday that Jeffery is still considered week-to-week.
Wallace was targeted three times in the Eagles’ first two games but didn’t have a reception.