diff --git a/packages/react-devtools-shared/src/__tests__/extractHOCNames-test.js b/packages/react-devtools-shared/src/__tests__/extractHOCNames-test.js
new file mode 100644
index 000000000000..810cccb2b688
--- /dev/null
+++ b/packages/react-devtools-shared/src/__tests__/extractHOCNames-test.js
@@ -0,0 +1,72 @@
+/**
+ * Copyright (c) Meta Platforms, Inc. and affiliates.
+ *
+ * This source code is licensed under the MIT license found in the
+ * LICENSE file in the root directory of this source tree.
+ *
+ * @flow
+ */
+
+import {extractHOCNames} from 'react-devtools-shared/src/backend/views/utils';
+
+describe('extractHOCNames', () => {
+  it('should return an empty result for an empty display name', () => {
+    expect(extractHOCNames('')).toEqual({
+      baseComponentName: '',
+      hocNames: [],
+    });
+  });
+
+  it('should not extract anything from an unwrapped component', () => {
+    expect(extractHOCNames('Button')).toEqual({
+      baseComponentName: 'Button',
+      hocNames: [],
+    });
+  });
+
+  it('should extract a single wrapper', () => {
+    expect(extractHOCNames('Memo(Button)')).toEqual({
+      baseComponentName: 'Button',
+      hocNames: ['Memo'],
+    });
+  });
+
+  it('should extract every wrapper of a nested display name', () => {
+    expect(extractHOCNames('Memo(ForwardRef(Button))')).toEqual({
+      baseComponentName: 'Button',
+      hocNames: ['Memo', 'ForwardRef'],
+    });
+  });
+
+  it('should extract wrappers nested more than two levels deep', () => {
+    expect(extractHOCNames('Memo(Forget(ForwardRef(Button)))')).toEqual({
+      baseComponentName: 'Button',
+      hocNames: ['Memo', 'Forget', 'ForwardRef'],
+    });
+  });
+
+  it('should extract lowercase wrapper names verbatim', () => {
+    expect(extractHOCNames('withRouter(Button)')).toEqual({
+      baseComponentName: 'Button',
+      hocNames: ['withRouter'],
+    });
+  });
+
+  it('should extract a mix of lowercase and uppercase wrappers', () => {
+    expect(extractHOCNames('connect(Memo(Button))')).toEqual({
+      baseComponentName: 'Button',
+      hocNames: ['connect', 'Memo'],
+    });
+  });
+
+  it('should not extract from a display name that is not shaped like a wrapper', () => {
+    expect(extractHOCNames('Foo (bar)')).toEqual({
+      baseComponentName: 'Foo (bar)',
+      hocNames: [],
+    });
+    expect(extractHOCNames('Memo(Button) extra')).toEqual({
+      baseComponentName: 'Memo(Button) extra',
+      hocNames: [],
+    });
+  });
+});
diff --git a/packages/react-devtools-shared/src/backend/views/utils.js b/packages/react-devtools-shared/src/backend/views/utils.js
index 55c5a2f14eb3..145ba87f31ed 100644
--- a/packages/react-devtools-shared/src/backend/views/utils.js
+++ b/packages/react-devtools-shared/src/backend/views/utils.js
@@ -149,7 +149,7 @@ export function extractHOCNames(displayName: string): {
 } {
   if (!displayName) return {baseComponentName: '', hocNames: []};
 
-  const hocRegex = /([A-Z][a-zA-Z0-9]*?)\((.*)\)/g;
+  const hocRegex = /^([A-Za-z_$][A-Za-z0-9_$]*)\((.*)\)$/;
   const hocNames: string[] = [];
   let baseComponentName = displayName;
   let match;