Jaeger, who carded a one-over par 73 on the South Course, finishes the tournament at 11-under, closely followed by France's Matthieu Pavon and Denmark's Nicolai Hojgaard, both trailing by a single stroke.
Belgian Thomas Detry, who held the lead heading into the 18th hole, encountered a setback as his shot found water, resulting in a double bogey and a round of 73, leaving him two strokes behind Jaeger.
Although Jaeger has yet to secure a victory on the PGA Tour, he holds six wins on the secondary Korn Ferry Tour. However, he acknowledges that past success does not guarantee anything and anticipates feeling nervous as he fights to maintain his lead on Saturday.
While reflecting on his performance, Jaeger expressed satisfaction in his mental approach to the golf course but emphasized the need for improvement in his putting and accuracy off the tee for the final round. He finished the day with five birdies and six bogeys.
Detry, on the other hand, experienced disappointment due to a cautious approach on the par-5 18th, resulting in his third shot rolling down the bank and into the water. Despite the unfortunate outcome, Detry remains hopeful, recognizing that the tournament is still wide open for him and the other contenders.
The leaderboard remains crowded, with 17 players within four shots of the lead. A challenging day with high-scoring play and numerous bogeys made for a demanding round for the field.
Pavon, who managed an even-par 72 featuring three bogeys and three pars, described the conditions as tough, attributing the difficulties to thick rough, changing wind patterns, and the fast and bumpy greens.
Hojgaard came close to joining Jaeger at the top of the leaderboard but narrowly missed a birdie putt on the final hole. Despite the setback, he remains optimistic and believes he has a good chance to make a move on the last day.
The stage is set for an exciting final round at Torrey Pines, as the top contenders battle for the prestigious Farmers Insurance Open title.