Hello! This is Kate, I'm jumping in for Jen since she's currently on leave.
So your question about whether it is "right" to apply is difficult to answer because I'm not sure how much work you've already done on your application. Have you secured your recommendations? Have you started on the essays? It can take quite a bit of time to do all of this plus things like short answer questions and updating your CV, so if you haven't started then I think it will be tough (but not impossible) to meet that deadline.
But I think the more important question is how does applying now with a below average GMAT impact your chances? And I think to be honest it will be tough. As Jen pointed out, their average is closer to 650, so applying with your current score will be a concern. Applying in later rounds is often tougher too, since much of the class has already been filled. If you're willing to take this risk and dedicate the time needed to execute a really solid application in the next two weeks, then go for it. Just know that you may need to have a backup (which could be retaking the GMAT this summer and then re-applying in the Fall or also applying to a safer program now).
Good luck!