<div>ONE STRING OF TEXT</div>script>/script>script>/script>script>/script>

@swansonphotos is right – those pesky BR tags are BReaking your JavaScript. By removing the spaces (as @swansonphotos suggested) your JavaScript should behave.

Before

<script><br />
hbspt.forms.create({<br />
portalId: ‘386862’,<br />
formId: ‘2243bd40-1f0c-4429-aaed-35a29cfe5a02’,<br />
target: ‘.newreg-form'<br />
});<br />
</script>

After

<script>hbspt.forms.create({portalId: '386862',formId: '2243bd40-1f0c-4429-aaed-35a29cfe5a02', target: '.newreg-form'});</script>

Also, I recommend you try the new HubSpot WordPress Plugin. It has a Shortcode which makes it easier to handle forms (and harder to break them).

Let me know if that works for you.

Cheers
Mike