Nah, don't. I was getting a metric ton of rejections in september-october and now I'm flying through applications. There's a huge number of firms still recruiting- often it'll be the firms you least expect who decide to take you on. I got Weil VI and Baker WG this cycle after being rejected by them like 3 times previously, so you really never know. Equally, the firms you've put your money on can be the ones who unexpectedly tell you to PFO. I did NRF AC last cycle and in my feedback, they were keenly telling me to re-apply this cycle - got rejected without even a WG test.
Point is this process is unpredictable. You do need to read over your unsuccessful applications though, and see which points are redundant/lacking impact/irrelevant to the question asked - the first question you always have to ask is "What did I do wrong" and "How can I improve this application next time!. It helps to keep a stiff upper lip and remember that rejections are inevitable.